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Market Impact: 0.7
Mortgage rates jump to nearly 7% after Fed rate hike — highest in nearly two years
Source: nypost.com
Monetary PolicyInterest Rates & YieldsInflationHousing & Real Estate
The Federal Reserve raised its key interest rate for the first time in three years to curb surging inflation. The move is expected to put further upward pressure on mortgage rates, tightening housing affordability and financial conditions.
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