You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range.
If it happens, the current origination forecast of $2.2 trillion in 2023 will look awfully rosy. Even the most battle-tested industry players are preparing for one of the strongest housing market corrections in decades.
Federal Reserve Chairman Jerome Powell sent a clear message during a press conference following the announcement of the central bank’s decision to hike the federal funds rate by 75 basis points on Wednesday: the ongoing housing market correction, which brought details ⇒
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