Rate Hike Could Discourage Some New Home Buyers

As expected, the U.S. central bank raised its key lending rate Wednesday by a quarter of a percent, only the second time it has done so since the end of the financial crisis. Economists say normalizing or raising the record low interest rates of the past few years is a sign the U.S. economy is on the mend. But others say higher rates could also hurt the very industry that triggered the financial crisis – the housing market. Mil Arcega has more.

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