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| You are wrong about when the interest peaked. I believe is was 83 or 84. All I want to remember is: We made it thru, wife and kids could have been on food stamps, but helping family and neighbors worked together to hold on to the farm. We were young ,3 small kids , and 65 cows to milk, feed. Plus running around 300 acres of corn and hay. Then had to be at work at 8:00 each weekday morning, to bring in money to make payments. Interest only was paid sometimes. I watched my loans of 7.5 % in 74 go to 11 % in 78 and then 18% in 83-84. Anytime you needed money, the bank would open your loans all up and jack the rate higher, locking in was useless. | |
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Interest rates. Something to ponder on a Saturday night
