Last week, the Federal Reserve continued to take aim at curbing rising inflation, approving the second 75-basis point interest rate hike in as many months. Marty Green has long served as a trusted mortgage industry source for media commentary on the impact of the Fed’s rate increases. His commentary on the most recent rate hike was featured in several media outlets, including:
- Forbes: “New Mortgages, Student Loans, Credit Cards: Here’s Everything That Will Cost More As Fed Raises Interest Rates”
- Mortgage Professional America: “Fed interest rate hike: Experts say it’s not all doom and gloom”
- HousingWire: “Fed’s interest rate hike to create less competition in the housing market”
- National Mortgage Professional: “As Expected, The Fed Raises Rate By Another 0.75%”
- National Mortgage News: “30-year fixed rate falls 24 basis points”
- Inman: “Fed’s steady approach to rate hikes could ease pressure on mortgages”
- Scotsman Guide: “Fed doubles down on June hike with another 75 basis-point interest rate increase”
“Some of our mortgage lending clients anticipated a slight improvement in interest rates in response to the Fed’s actions, particularly after speculation that the Fed might raise rates in July by a full percentage point,” Green said. “They also confirmed that the residential mortgage market has continued to cool substantially in response to the rapid interest rate increases since the first of the year. The question is whether the slowdown is a result of most consumers simply pausing a purchase decision while they see where interest rates and home prices settle, or whether they are having to delay purchase decisions indefinitely because of affordability concerns.”