>Given the very low interest rates in 21-22 and high prices, a certain percentage of folks would have purchased with a convertible mortgage. The 'certain perce

>Given the very low interest rates in 21-22 and high prices, a certain percentage of folks would have purchased with a convertible mortgage. The 'certain percentage' actually went over 50% of new mortgages, excluding refinancing. >Assuming the standard 5-1 and the fact that rates are rising very fast, should we expect a repeat of 2008 in 2026-2027? You would think so but no. We should expect it in 2022 primarily harming the large cities.