high interest rates ahead (1)

American Housing Market Reels from Soaring Mortgage Rates

The American housing market is facing a severe blow as significant lenders, including Wells Fargo, JPMorgan Chase, and Bank of America, have raised mortgage rates to the highest since the 2008 financial crisis. This move comes in response to the Federal Reserve’s aggressive campaign to raise interest rates to combat stubbornly high inflation. Homeowners across…