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…
