Contra this comment, the data suggests otherwise.
Figure 1: 15 year fixed mortgage rate adjusted by 10 year SPF median expected inflation (blue +), 15 year after tax fixed mortgage rate adjusted by 10 year SPF median expected inflation (tan square), 15 year after tax fixed mortgage rate adjusted by Cleveland Fed 15 year expected inflation (green line), all in %. After-tax calculation uses maximum marginal tax rate. NBER defined peak-to-trough recession dates shaded gray. Source: Freddie Mac via FRED (series MORTGAGE15US), Philadelphia Fed Survey of Professional Forecasters, Cleveland Fed, NBER, and author’s calculations.
These calculations seem to indicate mortgage rates, even for the highest tax brackets, are now solidly in the positive region.
