Yesterday, December 14, 2022, The Federal Reserve announced half of a percent rate hike to tame inflation. The target range of 4.25% and 4.5%, is now the highest target we’ve had since January 2008. CNBC says, “Along with the increase came an indication that officials expect to keep rates higher through next year, with no reductions until 2024.”
The good news is that the .5% is lower than the .75% increases that have occurred over the last few months. Hopefully, this smaller hike is the new trend moving forward, especially with the signs of inflation taming.
We’ll update you on how the market reacts further to this hike.
If you have any questions about strategizing whether to buy now or later, please feel free to reach out to our team of Real Estate Advisors. We can help you make the wisest decision for you!
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