Fed announces rate hike, mortgages already on the rise

Additional increases throughout the year could push mortgage rates as high as 5 percent by year's end
by Staff Writer
March 21, 2018

In a widely anticipated move, newly appointed Federal Reserve Chairman Jerome Powell on Wednesday announced a modest benchmark interest rate hike of between 1.5 percent and 1.75 percent amidst continued optimism over economic growth in 2018.

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