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NJ Spotlight News | Business Report: Mortgage rates climb | Season 2022


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  The rate for a 30-year conventional mortgage is now above 7%

The video from PBS, titled "Business Report: Mortgage Rates Climb," discusses the recent increase in mortgage rates, which have risen to their highest level in over two decades. This surge is attributed to the Federal Reserve's efforts to combat inflation by raising interest rates. The report highlights how higher mortgage rates are impacting the housing market, making home buying more expensive and potentially slowing down the market. It also touches on the broader economic implications, including effects on consumer spending and the overall economy. The video features insights from financial experts who analyze the situation and offer predictions on future trends in mortgage rates and the housing market.

Read the Full PBS Article at:
[ https://www.pbs.org/video/business-report-mortgage-rates-climb-1665600115/ ]