by AUSTIN DENEAN | The National DeskFILE - A sale sign stands outside a home in Wyndmoor, Pa., Wednesday, June 22, 2022. Hot inflation and jobs reports have likely pushed back the start date of the Fed eral Reserve’s dialing back of interest rates, which is likely to lead to higher mortgage rates sticking around longer and prolonging an affordability crisis in the country’s housing market .
Economists and real estate experts are expecting mortgage rates to decline later this year, but the interim is expected to be a continuation of the most expensive housing markets in U.S. history. Wednesday’s consumer price index rose 3.5% in March compared to the year prior, which was above economists’ expectations and higher than February’s figure of 3.2%. Core prices, which exclude volatile food and energy categories, also came in above expectations at 3.8% year-over-year.its benchmark interest rate at its June meetings and started raising questions from some economists as to whether the Fed will cut them at all.
Economic Data Fed Homebuyers Housing Market Inflation Interest Rates Mortgage Rates
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