Fed's Rate Hike Sets Stage for Housing Market Recovery
Dow Jones
2 hours ago
1621 ET - A higher federal funds rate today is the medicine that the housing market needs to recover tomorrow, Zillow's Mischa Fisher says in a note. Mortgage rates are more likely to come down next year if the market has greater confidence that inflation is getting under control, Fisher says. Unfortunately, it will still be a tough end of the year for home sales until then, she says. The recent run-up in rates is hitting an already slow housing market, where sales volume has started to decline year-over-year from an already low baseline, Fisher says.
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