10/26/2022
It’s October 2022 and Amanda McMillan, CEO of Chicago Home Partner and Samuel Ciochon are discussing what’s currently happening with interest rates, why we’re seeing this rise in rates and how a “3% interest rate was NEVER supposed to be the new normal.”
Recently, we’ve seen a lot of talk and volatility in the mortgage world, with rates spiking up to 6-7% from 3% a year ago. Why are we seeing this now? And more importantly - how is this rate increase being used to COMBAT inflation rates?
“3% interest rates were NOT normal, it’s not healthy and it was put in place to combat the economic shutdown due to a worldwide pandemic… the change in interest rates should have started back in 2021,” says Amanda McMillan.
Learn more as the team describes how this latest effort from the Fed is an attempt to “break” the trajectory we’re currently on and return to a more “normalized” market.
