Rep. Brendan Boyle: Mortgage Interest Rates Rise From ‘About 3%’ to ‘About 7.5%’ in Five to Six Years

RUSH EXCERPT:
BOYLE: “Well, you know, let’s not forget the missing ingredient there that goes into the mortgage payment. And that is your interest rate on your mortgage. Five, six years ago, you could have gotten a mortgage for about 3% and locked it in. Now it’s about 7.5% on a 30 year fixed mortgage. That, more than anything, has made the cost of buying a home completely unaffordable”