Chopping the economy down

McGraw, Dan
May 1994
U.S. News & World Report;5/23/94, Vol. 116 Issue 20, p50
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..


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