Word: kerins
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Dates: during 1980-1989
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...loans averaged about 13.85% in March, compared with 13.69% a month earlier. Each percentage-point boost in mortgage prices knocks about 2.5 million potential buyers out of the housing market. Above a rate of 14%, moreover, only about one family in six can qualify for a mortgage. Says Ken Kerin, vice president for economics and research of the National Association of Realtors: "Our greatest fear is another notch up in mortgage rates. If they go up another three-quarters of a percentage point, we could repeat the experience of 1981 and 1982 and end up with a housing crunch...