Mortgage rates

Recent history has shown that to get rid of inflation by the Fed raising interest rates requires them to raise the rate to the current inflation level which is 8%. The Fed rate is now less than one percent so they will have to raise the rate by about 8%. The current 30 years home mortgage rate is 4% and this will rise to 12%. If that is shocking to young people be aware that home mortgage rates in 1980 were 19% and the prime rate was 21%. Needless to say not many people were taking out mortgages.