The Federal Reserve policy makers today released minutes from the March 21 meeting and stated interest rate increases are not out of the picture if core inflation does not cool. The good news was that they took out the statement that interest rate hikes were their only option to calm inflation.
The Fed Rate is currently at 5.25% (prime is 8.25%) and some are still suggesting a decrease in the rate in the second or third quarter of this year. Those reduced rates would have a minor impact on the Outer Banks Real Estate Market - those with second mortgages could see a slight decrease in their payments.
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