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We already made the case back in August that real estate was cooling.What Abrams does not show is the long term history of mortgage rates; Rates at half century lows are why the Bom has lasted so long lasting; Indeed, even after 11 rate hikes, mortgages are only at 6.1% -- lower than anytime prior to this boom going back to 1971 . (I found data on the Freddie Mac site).
This page contains a single entry from the blog posted on October 23, 2005 9:02 AM.
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