The Federal Reserve’s move to hike interest rates signals good news for the housing sector, some experts say.
The central bank hiked its benchmark interest rate on Wednesday by a quarter percentage point. It also signaled that “just a couple more” hikes are likely in the Fed’s battle against high inflation. The industry group is expecting mortgage rates to drop, ending the year closer to 5%, rather than the 6%-range that’s presently being quoted. Last year, the 30-year was averaging at 3.45%
As long as housing prices continue cratering, all is well. 𝗢𝗹𝗱𝘀𝗺𝗮𝗿, 𝗙𝗟 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟭𝟵% 𝗬𝗢𝗬 𝗔𝘀 𝗧𝗮𝗺𝗽𝗮 𝗔𝗿𝗲𝗮 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗗𝗲𝗳𝗮𝘂𝗹𝘁𝘀 𝗦𝗼𝗮𝗿 𝗔𝘀 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗗𝗲𝗺𝗮𝗻𝗱 𝗣𝗹𝘂𝗺𝗺𝗲𝘁𝘀 𝗧𝗼 𝟮𝟳 𝗬𝗲𝗮𝗿 𝗟𝗼𝘄
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