BREAKING NEWS! Fed announces THREE fed rate increases for 2022
๐๐ญ๐ญ๐๐ง๐ญ๐ข๐จ๐ง ๐๐ฅ๐ฅ ๐๐๐๐ ๐ก๐จ๐ฆ๐ ๐๐ฎ๐ฒ๐๐ซ๐ฌ
This week the fed announced THREE fed rate increases for 2022. This means mortgage rates are likely to climb into the 4% range.
๐๐๐ฎ ๐๐จ ๐ฉ๐๐๐จ ๐๐๐ฅ๐ฅ๐๐ฃ๐๐ฃ๐?
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.
๐๐๐๐ฉ ๐๐ค๐๐จ ๐ฉ๐๐๐จ ๐ข๐๐๐ฃ ๐๐ค๐ง ๐ฎ๐ค๐ช?
This means rates will progressively rise in 2022. If you have been considering buying a home in 2022 start looking ๐๐๐.
Know your budget and be sure have an agent (and a lender) who keep up with changing rates. Itโs possible rates could jump while youโre home shopping.
๐๐๐๐ฉโ๐จ ๐ฉ๐๐ ๐๐๐๐๐๐ง๐๐ฃ๐๐ ๐๐ฃ ๐ข๐ค๐ฃ๐ฉ๐๐ก๐ฎ ๐ฅ๐๐ฎ๐ข๐๐ฃ๐ฉ ๐๐๐ฉ๐ฌ๐๐๐ฃ 3% 4%?
Contact a mortgage lender if youโre curious about your specific situation. If you let them know how much youโre looking to spend they can calculate those numbers for you.
Please share this post with anyone you know thatโs 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