Fed's Harker Says Banks Telling Fed Almost No Activity For First Time Home Buyers Given Rates
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Harker has reported that banks are seeing almost no activity from first-time home buyers due to the current interest rates.
October 13, 2023 | 1:50 pm
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NEGATIVE IMPACT
The lack of activity from first-time home buyers due to current interest rates may impact the broader market, including SPY.
The lack of activity from first-time home buyers indicates a potential slowdown in the housing market, which can have a ripple effect on the broader economy and thus impact the SPY ETF. This is due to the fact that the housing market is a significant component of the economy and changes in it can affect consumer spending and confidence.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75