try paying off a mortgage of around 17% interest Bazza.I have clarify about interest rates - as there they are lowest for many years..BUT - a few years ago - it was BIG dollars buying a shit house joint. That's the clarification.
Well I had a unit - 12 years ago and it was high interest rate NOT as high 17% - but it was 2 bedroom unit/1 bathroom one carport easier to pay the mortage, but years later, another brain injury. Then selling it off (my brother had to do it) then starting all over again. - get over yourself old bugger.try paying off a mortgage of around 17% interest Bazza.
Interest rates are currently so low a lot of people have borrowed to the maximum for as much house as they don't necessarily need.
If our economy recovers even a little you will hear the screams and moans from people who suddenly will have difficulty servicing their loans.
People today would not be able to handle the high interest mortgage rates of the 70's and 80's so in a good way its fine for the banks to tighten up loan criterior now