Fed Raised Rates Again...Now What?

Fed Raised Rates Again...Now What?

  • Renee Merritt
  • 05/5/23

It doesn't seem like that long ago that homebuyers were enjoying an extended period of record-low interest rates. Yet, here we are, at almost double the rate of just a year or so ago. While many economic and mortgage industry experts had expected that rates would stabilize in 2023 and that the Fed would begin easing interest rates by the end of 2023, the recent spate of bank failures had home buyers and investors speculating that the Fed may see it as a sign to accelerate the time table to start easing interest rates. Those hopes were dashed this week, as the Fed raised rates another quarter percentage point.

So for homebuyers who were hoping to come off the sidelines this Spring, what does this mean for mortgage rates? That's a great question. A recent USA Today report sheds some light on what homebuyers and homeowners can expect in the coming weeks and months. 


We are here to help! If you want to find out how much your home is worth in this strong market, email me at [email protected]. We would be happy to help you determine if the time is right for you to sell your home or buy a new home.

Work With Us

​Whether you're looking to buy a dream home, sell a property, or invest in a real estate opportunity, we have you covered. With over 24 years of combined real estate experience, every member of The Merritt Group Fine Properties team offers keen market insight and knowledge that is only acquired through years of navigating the every changing Phoenix area market. Let our extensive expertise and 'White Glove' service work for you!