Housing Market Recap (excerpted from Gate House’s weekly note to clients)

As the market was expecting, the Fed raised interest rates another quarter point Wednesday afternoon, bringing the federal-funds rate to a range between 5.25% and 5.5%, a 22 year high.  There will be eight weeks until the next Fed meeting.  Chairman Jay Powell said there is “uncertainty in the next meeting let alone next year.”  Powell also said he believed they “have a shot” at a soft … Read More