"historic rate-hiking campaign,"But we stand by this language, which is accurate both relative to the long arc of financial history and in the context of contemporary debt levels and asset prices.
It's absolutely true that rates were higher throughout the 1980s and for large parts of the 1970s and 1990s.era was the aberration. And just because rates haven't reached the peaks seen then doesn't mean they aren't still high by historical standards."After living through the 1980's and being ecstatic to get a 7.
The Freddie Mac mortgage data only goes back to 1971, but it's clear that interest rates were significantly lower than they are now in the era before the Great Inflation began in the late 1960s.— a measure of the bedrock risk-free interest rate — was 5.07% in 2023. It was lower than that in every single year from at least 1928