TITLE

Chopping the economy down

AUTHOR(S)
McGraw, Dan
PUB. DATE
May 1994
SOURCE
U.S. News & World Report;5/23/94, Vol. 116 Issue 20, p50
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Examines how the Federal Reserve's interest rate hikes are starting to undercut the housing industry. Three successive increases in short-term interest rates that have helped push 3-year fixed-rate mortgages from about 7% to nearly 9%; What the higher rates could ultimately cost homeowners; Effect on mortgage lenders; Interest-rate volatility that could make adjustable mortgages more popular. INSET: Patient consumers can profit, by Kerry Hannon..
ACCESSION #
9405177672

 

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