As you know money rates are rampidly increasing now but did it also happened in early 1980s?

Question

i know rates grow every month or so but this year it grown double the amount.

i heard that this happened in early 1980s just after end of 1970s.

if you know anything please shear with us.

Answer 1

late 80's is when the interest was at its highest, but it may of been higher before 85 graph doesnt go back that far.

http://www.houseweb.co.uk/house/market/g...

Answer 2

I can remember when mortgage interest rates were at 15%. So today's rates seem pretty cheap to me.

Mind you, inflation was even higher then, so real interest rates were negative!

Answer 3

Yes the cost of money has increased lately, but not nearly as bad as the 80's. I have attached a graph from the st. Louis fed showing the Federal Funds Rate ( minimum interest rate banks will charge, the rate the Fed charges banks), as you can see during the 80's it was about 18% and is now currently at 3%. You may have fallen victum to the stats. It is easer to double the rate when the rate is 1% but not as easy when the rate is 15%.

Answer 4

Well i also heard we are heading into a recession which is exactly what happened in the ealry 80's because that's when my parents got married and they go on about how hard things were back then and that its repeating itself again.

Answer 5

the economy is always gonna have ups and down effecting everything from from interest rates prices and pay