Rates is key to a homebuyer’s payment benchmark to jump 18% from February’s 2023 low.
After a springtime dip, rates have risen across financial markets this summer. The main culprit is a stern
Federal Reserve that’s willing to keep all interest rates high to make sure problematic inflation won’t returnLast November, mortgages hit their last peak of 7.08% as the Fed’s attempts to cool an overheated economy took full force. But as inflation began to slide from a four-decade high of 9%, fears ballooned about a possible recession. The Fed’s chore was done, right?And while inflation has cooled even further, there’s plenty of evidence the economy remains resilient, at a minimum.
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