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How higher interest rates make it more expensive to buy a home

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As the Federal Reserve raises interest rates to fight inflation, the housing market has been feeling the effects of this monetary policy more intensely than other parts of the economy. Since the beginning of the year, the interest rate on a 30-year mortgage loan has climbed from about 3% to nearly 7%, making it much […]

The post How higher interest rates make it more expensive to buy a home appeared first on The Black Chronicle.

Source: Homepage news - The Black Chronicle

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