Inflation Makes Home-Buying More Expensive, But That Won’t Stop Competition

The Federal Reserve began moving interest rates back up, but that won’ t deter home buyers, said Spenser Robinson, Central Michigan University Economics Professor. The average 30- year fixed mortgage rate hit 4.42%, up 1.31 percentage points from three months ago, according to Freddie Mac. For comparison, the average rate was 3.22% at the beginning of this year, and…