From March 2022, when the Fed began raising rates, through this July, personal interest payments, excluding those on mortgage loans, rose 69 percent, according to Bureau of Economic Analysis data.
Mortgage interest was in the C.P.I.
But if you own and the price of your house goes up, that’s kind of good.
To put it another way, interest is fundamentally different from the goods and services in the Bureau of Labor Statistics’ marketbasket.
Taking out a 30-year mortgage loan allows you to move into a house now.
Persons:
” Robert Gillingham, Walter Lane, ”, homeownership
Organizations:
Fed, Bureau of Labor Statistics, bureau’s, Labor, of Labor Statistics ’