Meme Historian Explains Why the Mortgage Loan Interest Rate Is Suddenly the Internet’s Favorite Villain
Social media is in a collective spiral after the latest Federal Reserve announcement, but the irony isn’t lost on historians: the mortgage loan interest rate has officially become the new "rent is too damn high" meme, except now it’s Gen Z discovering their parents’ 3% rate was a mythical unicorn. The internet is flooded with side-by-side comparisons of Boomer homeowners laughing in 2021 and a zoomed-in screenshot of a 7.5% rate that looks like a horror movie jump scare. The viral punchline? Millennials are now nostalgic for the "good old days" of 5% rates, while the real funny side is that everyone is realizing the mortgage loan interest rate has become the ultimate flex—either you locked in during the pandemic or you’re stuck paying for a cardboard box.