Real Estate Bee

What will another rate increase by FEDs before the end of the year mean for homeowners, buyers, real estate and mortgage professionals? Let's not forget: real estate sector's share in the economy is close to 20%.
At their September meeting, Fed officials chose not to raise the central bank’s benchmark federal funds rate—the borrowing rate for commercial banks and credit unions—maintaining its current target range of between 5.25% and 5.5%. However, projections released by the Federal Open Market Committee (FOMC) signal one more rate hike this year.

2023 Mortgage Rate Projections: Expert Insights and Forecasts What a difference a month makes. Mortgage rates began August below 7% before hitting 7.23%—the highest rate in more than two decades, according to Freddie Mac. Housing market watchers expect mortgage rates to remain elevated amid ongoing economic uncertainty and the Federal Reserve’s rate-hiki