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1970s Mortgage Rates Were Much Higher Than Today's 7.4%, And The Housing Market Still Boomed. So Why Is It Frozen Now?
Source: 247wallst.com
Housing & Real EstateInterest Rates & Yields
Mortgage rates near 7.4% have nearly frozen today’s housing market, despite rates regularly topping 15% in the 1970s when buyers still lined up. The article says two less-visible forces help explain the difference but does not identify them in the provided text.
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