June 15, 2022 The U.S. Federal Reserve has confirmed a 0.75% increase in the federal funds rate.* This will be the third rate hike initiated by the Federal Reserve so far this year, with possibly another expected to follow as soon as the next meeting on July 27th. It's important to note that while the purchase market is still strong, home listings are showing declining aggressiveness in their asking price.
The government is pushing the economic breaks hard so I hope you are wearing your metaphorical seat belt. Everyone is saying, lock it!
*Source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20220615a.htm