posing a quandary for the Federal Reserve as it readies to make a decision on Wednesday about whether to impose another rate hike.
Economists expect the Fed to leave interest rates unchanged on Wednesday, allowing previous rate increases to take greater hold of the economy and granting the central bank time to assess whether another hike will be necessary. High mortgage rates have dramatically slowed the housing market, since homebuyers have balked at the stiff borrowing costs and home sellers have opted to stay put with mortgages that lock them into comparatively low rates.
Source: Financial Digest (financialdigest.net)
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