The housing market is following a similar playbook from the 1980s when mortgage rates doubled. Here's what it could mean for homebuyers today.

• The US housing market is showing parallels to the 1980s, when mortgage rates doubled.
• Bank of America highlighted that both periods had strong pent-up demand due to demographic trends.
• Here's what this could mean for the housing market today, according to Bank of America.

There are striking parallels between today's housing market and the housing market of the 1980s, according to Bank of America.