When it comes to residential housing mortgages in the U.S., what do October 1982, January 2021, and October 2023 have in common?
Not much, as it turns out.
Each of those years was dramatically different from the other years in important ways when it came to the topic of 30-year fixed-rate mortgages.
Indeed, those three months almost couldn’t be more different once you begin to scratch the surface of what was going in house prices and mortgages.
And there are definitely lessons we should be taking away.