It’s been a brutal 15-month period for the housing market since the Federal Reserve began escalating its benchmark interest rate in March 2022 to combat rising inflation. 

Since then, the Fed has bumped rates 10 times, effectively putting the brakes on what had been a hot housing market. As the June 13-14 meeting of the central bank’s Federal Open Market Committee (FOMC) approaches, the housing industry remains prepared for yet another jolt of rate shock. 

Many market observers, however, also remain hopeful the Fed will pause its rate-escalation strategy at the June meeting. The CME FedWatch Tool, which calculates probabilities for FOMC rate details ⇒

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