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The Fed just made life even worse for home buyers

“And for every month that buyers strike out, the combination of rising home prices and higher mortgage rates can add hundreds or thousands of dollars to the cost of the home” writes Jonnelle Marte Is for washingtonpost.com. Real estate agents and economists say rates are still low by historical standards, but they are expected to rise further if the Federal Reserve continues to boost interest rates.Nearly half of the new mortgages issued by Freddie Mac in the first quarter went to first-time home buyers.In February he closed on a one-bedroom condo with exposed brick that was in his price range of about $200,000.
 
Source: washingtonpost.com



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