Real Estate Officials Urge Fed to Stop Raising Rates

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And amid calls for slower growth, Chris in a group is calling for changes to borrowing costs. This is complicated. Tell us more. That's right. And so major real estate and banking officials are urging the Federal Reserve to stop raising interest rates as the housing market comes under even more pressure. The National Association of Home Builders, the Mortgage Bankers Association and the National Association of Realtors also asked in a letter Monday that the central bank not actively sell its holdings of mortgage securities at least until the housing market stabilizes. The letter was released as the fed is considering how to proceed with interest rates after raising them 11 times since March of 2022 mortgage rates currently stand at a more than 20 year high.