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Last Updated: 05/31/05

News Release

Chicago Fed Letter Reports on U.S. Housing Market and Asks, "Is There a Bubble?"

This issue of the Chicago Fed Letter finds the increase in housing prices in the past 10 years can largely be explained by falling mortgage interest rates and changes in household income. This article offers some projections of what might happen to housing prices if mortgage rates increase. (60KB)

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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