The Federal Reserve has decided it’s time to fight inflation by raising interest rates, thus mortgage rates will follow. It’s unfortunate the Federal Reserve can only control monetary policy when we also need a new energy policy to help push prices down. That doesn’t seem to be soon, so we can expect higher rates going forward. Good summer activity will continue. Price increases will start to wane, it’s doubtful we’ll see a negative turn in the Sioux Empire this year unless economic conditions slip into recessionary times. We don’t expect that to happen here.
