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Homebuyers and owners looking to refinance pushed the pause button again this week as rates soared over 7%, a move economists attribute to ongoing economic uncertainty and geopolitical forces, namely the continuing conflict in the Middle East.  The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and…

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After their long-awaited meeting, the Federal Open Market Committee (FOMC) unanimously voted to raise federal funds rates by a quarter of a percentage point, moving the target range for interest rates 25 basis points, from 3.5%-3.75%, to 3.75%-4%. During a press conference following the meeting, Fed Chairman Kevin Warsh cited the data from this past…

The post Fed Unanimously Raises Rates With Housing Market ‘Losing Momentum’ appeared first on RISMedia.