Latest Federal Rate Hike to Further Challenge First-Time Buyers

The Federal Reserve has raised rates for the 10th time in its fight against inflation, which will result in higher debt costs for consumers.
Despite higher mortgage rates, some first-time homebuyers have been able to enter the competitive Real Estate market.
The fear among buyers is that if rates were to come down in the future, they would miss out on opportunities.
Before making large purchases, borrowers should get their finances in order and be aware of their debt levels.
The Federal Reserve's decision to raise rates may be its last hike, signaling a possible slow and steady decline from this point forward.