What the latest interest rate hike means for the housing market

The Federal Reserve raised interest rates again as it tries to ease inflation. Tanya Rivero takes a look at what it means for the housing market.

#news #federalreserve #inflation #housing

"CBS Evening News with Norah O'Donnell" delivers the latest news and original reporting, and goes beyond the headlines with context and depth. Catch the "CBS Evening News" weeknights at 6:30 p.m. ET on the CBS Television Network and at 10 p.m. ET on the CBS News app.

[terrillmel]

OMG. Why is it that buyers need to adjust to the higher rates? Seems like sellers will be adjusting by lowering their prices.

[donesy]

He feels lucky bc he bought at the height of the market and height of interest rates? 😂

[YT_C]

Rising rates mean FALL FALL FALL to the home prices.

[MD-ufmw]

Raising interest rates doesn't do anything but make everyone poorer. With higher interest rates you pay more on what you borrow. That's day one economics.

[tjtube]

Smart man. Bought his house before signing the marriage contract.

[scottiron]

A good reminder is this, you won't be able to refinance because you'll have negative equity....

[jaybartgis]

My homebuilder, Horizon Roofing and Construction of Jacksonville Florida, are my heroes. They turned down $30, 000 dollars from a real estate firm to sell me a place to live. May God bless you!

[paxundpeace]

Actually this mean that rates stay stable because the market priced a higher hike until a few days ago when much lower inflation rates were published.

[saliferousstudios]

I don't know but I finally have a savings account with a decent 3% return. You couldn't find those since 2008. I'm inclined to believe it's the interest rates valuing savings over debt. I prefer that! And so do most Americans. In the 60-70 interest rates were even higher and houses were affordable.

[HappyHarryHardon]

So he won the battle to be underwater in a year? He’s not going to have any equity soon.

[jlcain]

Adjusting to sticker shock? The only shock is unaffordablity. If they want to sell the price must come down.

[mash]

That poor guy is already underwater by A LOT! So much for “marry the house date the rate” cause that rate just got pregnant

[jessicabixler]

"Can always refinance" ...not if you owe 20% more than your house is worth...

[roberthhunt]

Housing market what a joke open for thrives that already have money to invest without losing

[oogabooga]

sheeeit us looters is squatters. car jack the neighbors👍

[erinpence]

Even if you bought a home it's not yours taxpayer every year.
Insurance i see