Rate Hikes in 2023 Could Affect Today’s Housing Market
In a vote of confidence in the nation’s strengthening economy, the majority of the Federal Reserve members now anticipate raising the interest rates twice in 2023. And while this wonky monetary projection may sound like a long way off, it could have a real impact on today’s overheated housing market.
In response to the news, mortgage interest rates could tick up a little in response. This could result in the scorching-hot and ultracompetitive real estate market softening just a touch.