
Real Talk Real Estate: Another interest rate hike crunches an already tight housing market
On Wednesday, the Federal Reserve increased interest rates by another 0.75 percent for a total rate of 2.25 percent. This is the rate banks charge each other for overnight loans and sets the base for other interest rates. Apparently, they believe this is the best move to stop inflation. I am not an economics major, so please note that the following is merely my opinion. I knew that the low-interest rates we have enjoyed since the 2009 housing debacle would eventually end. I honestly just didn’t expect that the Federal