The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, marking the 11th raise in the last 12 policy meetings.
After briefly pausing interest rate hikes in June, the Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, marking the 11th raise in the last 12 policy meetings.The Fed had indicated it wants to curb inflation to the 2% level, and raising interest rates would help alleviate rising prices.
U.S. house prices rose 4.3% between the first quarters of 2022 and 2023, according to theFederal Housing Finance Agency House Price Index. “Buyers have recently become accustomed to today’s rates and have ventured back out into the real estate market. Another rate increase may slow that momentum, causing even more days on the market for the properties that are listed for sale,” Moye said. Moye is concerned that a rate hike may deter sellers who are motivated to sell. The inventory situation across the country hasn’t let up as potential sellers are reluctant to move to trade into a higher mortgage interest rate.
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