Problem
a. Explain why the housing market usually prospers when the (real) mortgage rates are low.
b. In some states, usury laws prohibit (nominal) mortgage rates in excess of a legal maximum. Explain how this could lead to an exception to the conclusion in ( a ).
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.