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Existing Low-Rate Mortgages Blunt Impact of Recent Rate Surge
Abstract: The prevalence of low-rate mortgages suggests that future policy rate cuts may not as effectively stimulate household spending through refinancing as during past recessions.
Keywords: real estate; monetary policy; inflation;
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https://www.dallasfed.org/research/economics/2022/1227
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Provider: Federal Reserve Bank of Dallas
Source: Dallas Fed Economics
Publication Date: 2022-12-27