Projects

In 2023, the Federal Reserve increased interest rates to 5.75% in an effort to tackle inflation. Even with the economy showing signs of slowing down at the start of 2024, the Fed continues to be firm in its pursuit of a 2% inflation target. This increase in interest rates has led to mortgage rates climbing to between 7-8%. Consequently, many recent homebuyers have expressed that purchasing a home has become more challenging than it was in the past.