In 1979 most S&Ls had mortgage loans on their books that paid nominal interest rates of less than 10%. The inflation rate for 1979 was greater than 11%. Why weren't these S&Ls charging mortgage interest rates greater than the inflation rate?

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The Answer of In 1979 most S&Ls had mortgage loans on their books that paid nominal interest rates of less than 10%. The inflation rate for 1979 was greater than 11%. Why weren't these S&Ls charging mortgage interest rates greater than the inflation rate?

In 1979 Most S&Ls Had Mortgage Loans on Their Books