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Oct 11, 2023
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The Federal Reserve Tightens Its Grip on the US Housing Market

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Mortgage rates reached 7.49% for 30-year fixed-rate loans during the week ending Oct. 5, up from the previous week’s 7.31%. This steep increase, marking a 23-year high, is driven by rising inflation, labor market fluctuations, and uncertainty regarding the Federal Reserve’s actions. Elevated rates are dissuading potential homebuyers, making homeownership less affordable, even as housing

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Mortgage rates reached 7.49% for 30-year fixed-rate loans during the week ending Oct. 5, up from the previous week’s 7.31%. This steep increase, marking a 23-year high, is driven by rising inflation, labor market fluctuations, and uncertainty regarding the Federal Reserve’s actions. Elevated rates are dissuading potential homebuyers, making homeownership less affordable, even as housing
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