General World News

Fed’s 50 bps interest rate hike could trigger falling mortgage rates

After inflation slowed more rapidly than expected in November, the Federal Reserve raised the federal funds rate by 50 basis points on Wednesday to 4.25%-4.50%, a smaller interest rate hike than the 75 bps per meeting the Fed policymakers have stuck to since June. This slowdown is good news for the housing industry as it may lead to a decline in mortgage rates.

The decision from the two-day Federal Open Market Committee meeting is encouraging news for the housing market, which has suffered due to still-elevated home prices, a lack of inventory and details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com