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April 27, 2022

Single family housing activity slowed in March as mortgage rates increased. This could lead to a decline in home prices and a reduction in the growth of consumer prices.

Mortgage rates have been rising throughout 2022, and the pace has accelerated since March, ending the week of April 21st above 5% for the first time since 2011. Source: FRED. This increase in borrowing costs is starting to have an impact on current and future expected single-family activity.  Some of the impact is driven by...
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