Talk about NIRP (negative interest rate policy). The Real 30-year mortgage rate (nominal rate – headline CPI YoY) has now fallen to -2.35%.
While the REAL 30-year mortgage rate is at its lowest level since 1975 and President Gerald Ford, home price growth is at its highest in history and higher than the peak of the housing bubble.
And then we have this chart of US House Price-to-Rent ratio. Highest ever! Even exceeding 1975!
Lowest real mortgage rates since Gerald Ford.