Why the Fed is taking a hammer to the housing market
Why the Fed is taking a hammer to the housing market
The Federal Reserve’s rapid interest rate hikes are taking a serious toll on the housing market. Home prices and sales have fallen throughout the year as buyers recoil from rising mortgage interest rates — one of the first sectors of the economy affected by Fed rate hikes.
As the Fed boosts its baseline interest rate range, borrowing costs for consumers and businesses rise along the way. The…