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Fed Hikes Rates, Mortgage Costs Rise | Real Estate News
The Fed just hiked rates by a quarter point—the first since last July—to battle stubborn inflation, pushing the benchmark to 3.75–4%. With another hike likely before year’s end, mortgage rates are now stuck above 7%, tied to rising Treasury yields. While oil prices and productivity gains could eventually ease pressure, experts say don’t expect relief soon. For homebuyers, higher rates mean more inventory and less competition—but also tighter budgets. Still, the move signals economic confidence, and with housing options expanding, buyers may find opportunity amid the cost crunch. Listen in…
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