David Hall, President and CEO of Hall Financial and a leading mortgage expert, sat with Roop Raj from Fox 2 to answer questions about the current mortgage market.
The Federal Reserve Bank met on March 16, 2022, and Hall offered his expertise on what this may mean for the market and consumers. In this clip, Hall and Raj tackled the question: what does the Fed raising the interest rate mean for the everyday person?
As Hall explained, the goal behind the interest rate increase is to tame the growing inflation that the United States is currently facing. The increase will not immediately affect consumers, but as the Fed consecutively hikes interest rates, change in auto rates, home equity lines, and home mortgage loans such as fixed rate loans and adjustable rate loans can be noticed.