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Bloomberg: Median home prices fell 0.98 percent in August from a month earlier,
following a 1.05 percent drop in July, mortgage-data provider Black Knight
Inc. said in a report Monday. The two periods mark the largest monthly
declines since January 2009… The housing market is losing
steam fast with skyrocketing mortgage rates driving affordability to the
lowest level since the 1980s. The Federal Reserve has sought to curb
inflation, which has thrown cold water on the US real estate boom
(Bloomberg). Fox News: In addition
to the large rate hike, Fed officials laid out an aggressive path of rate
increases for the remainder of the year. New economic projections released
after the two-day meeting show policymakers expect interest rates to hit 4.4
percent by the end of the year, suggesting that another three-quarter
percentage point increase is on the table (Fox News).
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