Mortgage Rates in the United States

Mortgage rates in the united states were through the roof. People were having to take out mortgages at, don't check your hearing, 20%. We were in an era of near galloping inflation that had gone on for years and years and years. And so borrowing money was unreal. On the money market accounts back then, you were earning 17 % interest. That tells you how much inflation was a factor. Well, i, in the midst of that, bought a house, cause housing prices were depressed because of the very, very high interest rates. But my mortgage that i took out was unusual. It was something called n c n e, non qualifying non escalating. What that meant