“Even with the Federal Reserve raising its short-term fed funds rate by another large amount, longer-term interest rates look to move only slightly. The mortgage market has already priced in the latest Fed move. Still, mortgage rates are near 20-year highs, and that hurts home buyers. Once inflation is contained, mortgage rates will start to drift lower. It may be another year or two before that happens.”
Instant Reaction from NAR Chief Economist Lawrence Yun: Today's Federal Reserve Announcement
Written by National Association of Realtors Posted On Wednesday, 02 November 2022 11:46
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