6. We were trying to sell a house in 1978 and buy another one.
The interest rates were killing everything. I did sell my house in early 1979. We did not take out a mortgage on a new house until 1980. Interest rates here had dropped some.
We refinanced when the interest rates normalized, but not because we wanted to sink all our equity into vacations and improvements. We wanted to save money on interest payments. The mortgage was paid off three years ago, and it is going to stay that way. No borrowing!
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