Could the Fed’s interest rate hike cool the hot housing market?
The Fed’s latest interest hike may have more of an impact on new home borrowers than you might expect.
Interest rates are going up again, another 0.75%. The Federal Reserve has made it clear it will act aggressively to slow down inflation, but overall, it hasn’t seen much success.
At least that’s true when it comes to consumer spending. As for the housing market, things are playing out a little differently. Mortgage rates, which tend to shadow the federal interest rate, are also climbing upward, and causing house prices to drop.
Reset unpacks just how the federal interest rate hike impacts the Chicago-area housing market and what this means for new homeowners.
GUEST: Dennis Rodkin, reporter for Crain’s Chicago Business
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Reset with Sasha-Ann Simons
Could the Fed’s interest rate hike cool the hot housing market?
The Fed’s latest interest hike may have more of an impact on new home borrowers than you might expect.
Interest rates are going up again, another 0.75%. The Federal Reserve has made it clear it will act aggressively to slow down inflation, but overall, it hasn’t seen much success.
At least that’s true when it comes to consumer spending. As for the housing market, things are playing out a little differently. Mortgage rates, which tend to shadow the federal interest rate, are also climbing upward, and causing house prices to drop.
Reset unpacks just how the federal interest rate hike impacts the Chicago-area housing market and what this means for new homeowners.
GUEST: Dennis Rodkin, reporter for Crain’s Chicago Business