All right, I've showed this graph many times, and it's a very important graph because this explains why housing froze and why there were no transactions in housing. It's a good thing and a bad thing. During the zero interest rate environments of 20 and 21, everybody rushed out and refinanced their mortgage. So the dark blue is mortgages with less than a 3% interest rate. The gray is 3 to 4, the salmon color is 4 to 5. (33:39–33:43)
CLAIM
Asserts that many people refinanced their mortgages during the zero interest rate periods of 2020 and 2021.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
