Dec
15
A decade after home sales peaked, buyers who have enjoyed historically cheap mortgage rates during the industry’s recovery are now bracing for an end to the gravy train.
Almost all economists surveyed by Bloomberg project the Federal Reserve will raise its benchmark interest rate Wednesday for the first time since 2006.
Similarly, 38 of 47 respondents in the Bloomberg poll conducted Dec. 8-10 said Fed interest-rate increases would prompt a rise in the 30-year mortgage rate next year. Eight said mortgage rates will stay the same, while one said the rates would decline…
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