Mortgage Mayhem Creating Consumer Chaos?

How will the surge in mortgage rates impact home prices, consumer spending, and the trajectory of the economy?

In a quest to control inflation in the US economy, the Federal Reserve Bank has raised interest rates to levels not seen in decades. As a result, mortgage rates have also surged, creating pressures that will almost certainly impact real estate prices. The average 30 year fixed mortgage rate hit 8% before recently falling slightly. To put this in context…