Mortgage Rates Again Push Close to 7%

Although data suggests that inflation is softening, increases in housing costs, which account for a large share of inflation, remain significantly high, mainly due to low inventory relative to demand.

As a result of high inflation, the Federal Reserve will continue to jack up interest rates at a fast pace. Although the Fed forgo a hike at its meeting of policymakers last month we expect rate hikes to continue for the foreseeable future.

Checkout this article:

https://www.floridarealtors.org/news-media/news-articles/2023/07/mortgage-rates-again-push-close-7

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