{"id":3866,"date":"2023-05-03T21:23:00","date_gmt":"2023-05-04T01:23:00","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/mortgage-rates-are-probably-going-up-again\/"},"modified":"2023-05-03T21:23:00","modified_gmt":"2023-05-04T01:23:00","slug":"mortgage-rates-are-probably-going-up-again","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=3866","title":{"rendered":"Mortgage Rates Are Probably Going Up Again"},"content":{"rendered":"<div>\n<p>The Federal Reserve just raised interest rates for the 10th time in 14 months.<\/p>\n<p>Mortgage rates are already about 3.8 percentage points higher than they were at the beginning of 2021, but today\u2019s Fed action probably means they\u2019ll go up even more.<\/p>\n<p>The Fed doesn\u2019t directly set mortgage rates, but the Fed\u2019s policy decisions are among the most important drivers that determine mortgage rates in the market. For details on what moves mortgage rates, check out this article: \u201cThe Effect of Fed Policy Decisions on Mortgage Rates: What Homeowners Need to Know.\u201d<\/p>\n<p>Three basic factors are conspiring to keep mortgage rates going up:<\/p>\n<ul>\n<li><u>Inflation<\/u> is still too high. Prices rose 5.0 percent over the last year, according to April\u2019s report on the Consumer Price Index. Even worse, consumers expect high inflation to continue, according to surveys. Both high inflation and high expectations push mortgage rates up.<\/li>\n<li>The economy is still too strong. Continuing growth in employment, income, and consumption will keep upward pressure on prices, so the Fed needs to see some easing in job markets and overall demand. The Fed will have to keep pushing rates up to prevent the economy from overheating.<\/li>\n<li>The housing market is still too strong. House prices nationwide are about 40 percent higher than they were three years ago, and the median price for existing single-family houses is now a whopping $380,000. Competition among house buyers puts more upward pressure on mortgage rates up even if house prices soften.<\/li>\n<li>The Fed is continuing to reverse their former policy of keeping mortgage rates low through \u201cQuantitative Easing.\u201d Throttling back on their enormous holdings of mortgage-backed securities and other long-date bonds helps put more upward pressure on mortgage rates.<\/li>\n<\/ul>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/bradcase\/2023\/05\/03\/mortgage-rates-are-probably-going-up-again\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve just raised interest rates for the 10th time in 14 months. Mortgage rates are already about 3.8 percentage points higher than they were at the beginning of 2021, but today\u2019s Fed action probably means they\u2019ll go up even more. The Fed doesn\u2019t directly set mortgage rates, but the Fed\u2019s policy decisions are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-3866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage Rates Are Probably Going Up Again | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The Federal Reserve just raised interest rates for the 10th time in 14 months. 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