this post was submitted on 21 May 2024
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AFIK the US has very long mortgage terms. It's routine to get a 30 year mortgage with locked in terms. Of course people can and do refinance but if they have good terms they can keep them until the house is paid off.
Our mortgages are only a couple of years or so.
That's a huge difference INMHO and can't really be compared.
I mean, that's pretty much what that first study says. The international markets they studied had big impacts on house prices from interest rate changes. There was less of an effect in the US, but still a lot more than they expected.