One of the few advantages of being old is that my mortgage is also old and dwindling. But so many people arent in that position, it's terrifying. I remember the black monday interest rate hike, and my colleagues were walking around hollow-eyed. Brrr.
Oh yes, I'm not worried about me - I remember Black Monday too so always price up mortgages at 10% for could-I-sustain-that and 15% for could-I-handle-that-for-a-bit. But so many people are at the edge of what's payable that I think we'll see real trouble at 1%.
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One of the few advantages of being old is that my mortgage is also old and dwindling. But so many people arent in that position, it's terrifying. I remember the black monday interest rate hike, and my colleagues were walking around hollow-eyed. Brrr.
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