When short-term interest rates began to fall last year, long-term rates held their ground or even moved up.
If the current rate holds, 5.25 million homes will sell this year.
He voiced a concern that stubbornly high long-term rates would hold the economy back.
If that rate held for 12 straight months - unlikely but not unthinkable - annual inflation would top 410,000 percent.
The rate for nondurable goods held steady at 85.7 percent.
As a result, rental rates have held their previous levels or even increased in some locations.
And it has been assumed in the industry that the rate of progress would hold for at least another 10 to 15 years.
The exponential rate is holding and our going transparent might come pretty soon.
German rates are holding firm, he said, while the Fed policy is to provide stable to easier credit.
The reason analysts are predicting that the higher prime rate will hold is a squeeze on bank profits.