Housing Supply, Career Opportunities, Vendor Services; How the Fed Impacts Rates
It’s Fed decision day today and another 75-basis point rate hike is expected. Mortgage rates have surged to 14-year highs, deterring both buyers and builders, who have begun making the shift to apartments. ArchMI released its quarterly Housing and Mortgage Market Review, which said that rates aren’t expected to return to the sub-3 percent, or sub-4 percent, range any time soon. Existing home sales have declined sharply to sit nearly 30 percent below the January 2021 pandemic peak of 6.65 million and about 10 percent below the 2019 average of 5.24 million. Over the past year, home...
Source: mortgagenewsdaily.com
