
U․S․ Mortgage rates surged to a 21-year high
U.S. mortgage rates surged this week, with the popular 30-year fixed rate hitting the highest level in more than 21 years, further complicating the housing market outlook.
The Federal Reserve kept the interest rate steady at 5.25%-5.50%, the highest in the last 22 years.
Simultaneously, the Fed revealed intentions to reduce the interest rate by 0.75 percentage points in the upcoming year.
The central bank foresees a drop in inflation to 2.4% in 2024, adjusted from the September forecast of 2.5%, and a further decrease to 2.2% by 2025.
This page was last updated 14.12.2023 00:46