The first meeting of the Federal Reserve in 2023 gave us a 0.25% hike of the Fed funds rate, which was widely expected by experts. Market sentiment leading up to that announcement indicated that investors believed inflation had peaked and the Fed would soften their stance on how high they believed rates needed to go before they decide to back off their hikes.

Unfortunately, jobs data released this month showed the increase in non-farm payroll numbers was substantially higher than anticipated, which caused rates to rise some. The Fed will most likely raise rates another 0.25% at their March meeting, and again in May. Hopefully, by then, we’ll have seen the peak of inflation and can begin to look forward to rates starting to come back down.

To get in touch, reach out to your Helen Adams Realty agent or contact Tom Baker directly.

About Introlend Carolinas

IntroLend Carolinas is a mortgage marketplace that allows you to compare your options side-by-side, giving you the confidence to know you are receiving the best possible rate and terms. Helen Adams Realty has dedicated finance managers in their offices who have been in the mortgage and customer service industries for decades and understand how to take great care of any borrower in any scenario.