LATEST NEWS: Fed Raises Interest Rates for First Time Since 2018
The Federal Reserve responded to the nation’s surging inflation Wednesday by inching up interest rates by a quarter of a percentage point and signaling it plans more hikes in the months to come.
It was the Fed’s first increase since 2018 and will lift the central bank’s benchmark rate from near zero, where it has been the last two years of the pandemic.
What does this mean for you? The cost of borrowing for banks will be increased which means buyers who have been waiting to buy, it will only cost you more. With 6 more increases on the way, it is about to get WAY more expensive to purchase the same home in the coming months. If you were thinking about buying or selling, let's talk today! Click the picture below to set up a consultation.