On Good Morning America today, self-made real estate millionaire and Shark Tank star, Barbara Corcoran, shared her thoughts on the U.S. housing market and answered a few questions from viewers. And of course, the first question that came from ABC’s Robin Roberts: Why are mortgage rates so high?
“It’s the only tool the federal government has for controlling inflation and getting hold of our economy, and they’ve wanted to slow it down, and it’s worked. A year ago, it was 9%, that was our inflation rate, now it’s down to 3%, and they’re going to hold firm until it gets exactly where they’ve targeted,” Corcoran answered. And that magic number for the Federal Reserve is 2%.
