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Lower mortgage rates have boosted consumption.
Statistics Canada said lower mortgage rates also dampened the increase.
Lower mortgage interest rates also supported the switch, he said.
They have not brought sharply lower mortgage rates to America.
They would sacrifice square footage for a lower mortgage.
Arguably, lower mortgage rates justify some of this rise.
For homeowners, it could lead to lower mortgage rates in the months to come.
It means lower mortgage rates, and lower interest rates on bank deposits.
It could help lower mortgage rates by buying longer-term securities, Mr. Bernanke noted.
And that, in turn, has meant lower mortgage interest rates and more homeownership.
Lower mortgage rates do little when unemployment rises and wages stagnate, he added.
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