Tag Archives: Dr. Lisa Sturtevant

The Federal Open Market Committee moved to raise the nominal interest rate by 25 points to a range of 4.50-4.75% at the end of its February meeting.

“This recent low point in home sales activity is likely over,” said Lawrence Yun, NAR’s Chief Economist. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

At the end of the Federal Open Market Committee’s November meeting, Federal Reserve Chairman Jerome Powell indicated ongoing rate hikes will be necessary to tamp inflation down to the target rate of 2%.