Higher mortgage rates are coming. What could it mean for homebuyers? – USA TODAY

The Federal Reserve’s announcement this week  that it will fight inflation by phasing out a bond-buying program and preparing for faster interest-rate hikes will have far-reaching consequences for home prices and affordability, experts say.

The Fed expects to raise rates three times next year to make borrowing more expensive for individuals and businesses, aiming to cool demand and soaring prices. It also expects more hikes in the following two years, lifting rates from near zero to 2.1% by the end of 2024.

Leave a comment

Your email address will not be published. Required fields are marked *