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Fed’s biggest rate hike since 1994 means millions more homebuyers may be priced out of housing market, as 30-year mortgage rate spikes

Posted on June 18, 2022 By admin No Comments on Fed’s biggest rate hike since 1994 means millions more homebuyers may be priced out of housing market, as 30-year mortgage rate spikes
Fed’s biggest rate hike since 1994 means millions more homebuyers may be priced out of housing market, as 30-year mortgage rate spikes

Pity those first-time house buyers. On Wednesday, the US Federal Reserve raised the benchmark interest rate by 75 basis points to a 1.5% to 1.75% range, the biggest increase since 1994 as it tries to tame rising inflation, which has reached a 40-year high. Eric Finnigan, a director at John Burns Real Estate Consulting, wrote…

Read More “Fed’s biggest rate hike since 1994 means millions more homebuyers may be priced out of housing market, as 30-year mortgage rate spikes” »

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