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mortgage rate hikesNewsweek
•Business
Business & Economics
76% Informative
Federal Reserve Bank of New York survey found that households expect 30-year mortgage rates to increase to a median of 7 percent a year from now.
Mortgage rates saw a significant uptick after the Federal Reserve started raising rates to fight off inflation.
Analysts previously anticipated mortgage rates could get as low as 5 percent this year , allowing more homeowners to enter the market.
But current forecasts suggest rates will stay between 6 and 7 percent throughout 2025 and most of 2026 .
The uncertainty of Trump 's administration makes it difficult to forecast the next four years with confidence.
Tassey: "It's very worrying, because home ownership has been closely associated with net worth for decades " "For first -time buyers trying to get into the market, that uncertainty creates an even bigger challenge," he said.
VR Score
82
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87
Neutral language
49
Article tone
semi-formal
Language
English
Language complexity
56
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Hate speech
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Attention-grabbing headline
detected
Known propaganda techniques
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Time-value
short-lived
External references
9
Source diversity
1
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