The Fed's Hawkish Turn: Will Higher Rates Crush Homebuyers? Federal Reserve Bank of Kansas City President Jeff Schmid has expressed his primary concern about inflation in recent remarks.
He believes that monetary policy may not be tight enough to combat rising prices, a sentiment shared by three Fed officials who voted for a rate hike at the latest meeting.
Schmid's comments have significant implications for homebuyers, particularly those seeking mortgages in an already challenging market. The average 30 year fixed mortgage rate has climbed to 6.