Fed rate hikes affecting new Phoenix home borrowers

Phoenix Business Journal

A projected 0.25 percent increase in interest rates for June 2018 will affect home borrowers — and make homes in Arizona a little more expensive, according to WalletHub’s 2018 Fed Rate Hike Report.

Jill Gonzalez, WalletHub analyst, said the Federal Reserve raises rates to try to keep consumers from borrowing. If interest rates rise, an extra credit card seems less desirable, she said.

Gonzalez told the Phoenix Business Journal these Fed rate hikes have an impact on new mortgages, making homes…

Source: Residential News