{"id":90993,"date":"2023-10-16T19:41:00","date_gmt":"2023-10-16T15:41:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=90993"},"modified":"2023-10-16T23:30:24","modified_gmt":"2023-10-16T19:30:24","slug":"feds-harker-higher-rates-contribute-to-rising-home-prices","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/feds-harker-higher-rates-contribute-to-rising-home-prices\/10\/16\/market-updates\/","title":{"rendered":"Fed\u2019s Harker: Higher Rates Contribute to Rising Home Prices"},"content":{"rendered":"\n<p>Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices.<br><br>Higher rates discourage current owners from listing their homes for sale, which puts a crunch on inventory, Harker said Monday in remarks prepared for a convention in Philadelphia organized by the Mortgage Bankers Association.<br><br>According to Harker, &#8220;It will take time for Fed rate hikes to be fully felt&#8221;, he also sees that the labour market is coming into better balance, not expecting mass layoffs. <br><br>Harker mentioned that &#8220;Auto strikes, renewed student loans will weigh on the US economy.&#8221; He added that he is expecting unemployment rate to rise to about 4%.<br><br>Harker also sees fed policymakers are at the point where rates can be held exactly where they are now.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices.Higher rates discourage current owners from listing their homes for sale, which puts a crunch on inventory, Harker said Monday &hellip;<\/p>\n","protected":false},"author":13,"featured_media":53410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6885,6987,7517,7940,9446],"class_list":["post-90993","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-fed","tag-inflation","tag-interest-rates","tag-labour","tag-patrick-harker"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=90993"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90993\/revisions"}],"predecessor-version":[{"id":90999,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90993\/revisions\/90999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53410"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=90993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=90993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=90993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}