Newsfeed: Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower.
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower.
Our updated forecast includes an expectation of a modest recession in the latter half of 2023 as we see a contraction in economic activity as the most likely path to meet the Federal Reserve’s inflation objective given the current rate of wage growth and inflation.