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How inflation affects mortgage rates
Housing market news often mentions “The Fed” aka The Federal Reserve.
The Fed is trying hard to reduce inflation.
Though we’ve had 12 straight months of inflation reduction, it’s still higher than the Fed’s target of 2%.
While you may hope The Fed stops their hikes, they don’t want to stop too soon and risk inflation climbing back up.
“We remain committed to bringing inflation back to our 2 percent goal and to keeping longer-term inflation expectations well anchored.”
-Jerome Powell, Chairman of the Fed
When inflation is high, mortgage rates are also high.
If The Fed succeeds in bringing down inflation, it leads to lower mortgage rates, making it more affordable for you to buy a home.
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Buying + Selling in Nashville?
Wendy Monday • Broker
PARKS Real Estate
💻 www.wendymonday.com
📧 wendy@wendymonday.com
📞615.642.1313
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