The most recent interest rate hike will price out a large share of prospective homebuyers, but will it be enough to reduce housing costs in overheated markets?
The Federal Reserve sent its rates soaring by 75 basis points earlier this week, subsequently pushing the 30-year fixed mortgage rate beyond the 6% mark
Buyers long delayed by fierce bidding wars and low inventory during the mid-pandemic buying frenzy could find more opportunities for home purchases as the market decelerates