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No, the average mortgage was far lower than $270K, but so were wages. Loans were much harder to get and affordability was a problem. Our first home cost around $22K. It took us THREE YEARS to save the deposit, about average for those days when you needed a hefty deposit before you were even...

The biggest interest rate rise I have experienced in one hit is 2%. I don't think .5% will "panic" anyone over about 35-40 years of age - we have seen it all before. Marg