BREAKING NEWS! Fed announces THREE fed rate increases for 2022

๐€๐ญ๐ญ๐ž๐ง๐ญ๐ข๐จ๐ง ๐š๐ฅ๐ฅ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ ๐ก๐จ๐ฆ๐ž ๐›๐ฎ๐ฒ๐ž๐ซ๐ฌ

This week the fed announced THREE fed rate increases for 2022. This means mortgage rates are likely to climb into the 4% range.

๐™’๐™๐™ฎ ๐™ž๐™จ ๐™ฉ๐™๐™ž๐™จ ๐™๐™–๐™ฅ๐™ฅ๐™š๐™ฃ๐™ž๐™ฃ๐™œ?

During the pandemic the fed purchased bonds to help the economy, this caused us to see record low interest rates sometimes below 3%

Due to inflation, the fed will stop buying bonds in winter or early spring 2022.

Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.

๐™’๐™๐™–๐™ฉ ๐™™๐™ค๐™š๐™จ ๐™ฉ๐™๐™ž๐™จ ๐™ข๐™š๐™–๐™ฃ ๐™›๐™ค๐™ง ๐™ฎ๐™ค๐™ช?

This means rates will progressively rise in 2022. If you have been considering buying a home in 2022 start looking ๐™‰๐™Š๐™’.

Know your budget and be sure have an agent (and a lender) who keep up with changing rates. Itโ€™s possible rates could jump while youโ€™re home shopping.

๐™’๐™๐™–๐™ฉโ€™๐™จ ๐™ฉ๐™๐™š ๐™™๐™ž๐™›๐™›๐™š๐™ง๐™š๐™ฃ๐™˜๐™š ๐™ž๐™ฃ ๐™ข๐™ค๐™ฃ๐™ฉ๐™๐™ก๐™ฎ ๐™ฅ๐™–๐™ฎ๐™ข๐™š๐™ฃ๐™ฉ ๐™—๐™š๐™ฉ๐™ฌ๐™š๐™š๐™ฃ 3% 4%?

Contact a mortgage lender if youโ€™re curious about your specific situation. If you let them know how much youโ€™re looking to spend they can calculate those numbers for you.

Please share this post with anyone you know thatโ€™s looking to buy a home in 2022.

If you have questions shoot us a DM/text/email anytime.

Hokel Real Estate Team | www.hokelrealestateteam.com | 515-981-2113

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