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First American Compares Housing Market to the '80s

Friday, Oct 20 2023
Lending
Written by  The Mortgage Leader

First American Data & Analytics has likened the current housing market to the market in the late 1970s and early ’80s, another period of recession and surging interest rates. So reports NEXT Mortgage News.

first american 150x150Mark Fleming, chief economist at First American, also noted that Baby Boomers then, like millennials today, were reaching their key home-buying period.

Fleming warned that what happened in the ’80s is that mortgage rates soared to 18% and home sales slumped.

Read the full article from NEXT Mortgage News.

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