America In Focus: Affordability Concerns Rise as Fed Hikes Key Rate, Mortgage Rate Reaches Nearly 7%

America is getting richer. Are Americans getting richer, too?

Voters can’t spend GDP. They experience the economy through their paycheck, mortgage, grocery bill and whether their grown kids can afford a house.

America In Focus: Affordability concerns rise as Fed hikes key rate, mortgage rate reaches nearly 7%

The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly high inflation, and the central bank signaled another rate hike could occur later this year. The quarter-point increase lifts…

Inflation Bites US Households: Mortgage Rates Jump 7% At 19-Month High Following Fed Rate Hike

The increase in mortgage rates comes as inflation remains elevated and log-term bond yields have risen, factors that can influence the cost of home loans. Home shoppers holding out for relief from rising mortgage rates may be in for a long wait.