The Fixed-Rate Mortgage Helped Forge the Middle Class

1933: The Home Owners’ Loan Corp. introduces a 15-year, self-amortizing home loan.

The Fixed-Rate Mortgage Helped Forge the Middle Class — Photograph by Gallery Stock

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Take our Survey

December 4, 2014 at 12:59 PM UTC

This article is for subscribers only.

This article is part of the December 8, 2014 issue of businessweek.

The Fixed-Rate Mortgage Helped Forge the Middle Class

1933 The Home Owners’ Loan Corp. introduces a 15-year, self-amortizing home loan.