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Statement on Rate Hike

“Rising inflation will predominantly dictate the next monetary policy decision, but another short-term rate hike should be expected by the end of the summer. Right now, rents and housing costs are increasing faster than other components because of the stubborn housing shortages in much of the U.S. To contain inflation and slow the pace of future rate hikes, more home construction is needed now.” 

- NAR Chief Economist Lawrence Yun on the Federal Reserve’s decision to raise short-term rates for the first time in 2017.


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