The Federal Reserve’s interest rate hikes to combat high inflation and consecutive economic contraction have kept the mortgage rates volatile. The 30-year fixed-rate mortgage averaged 4.99% in the week ending August 4, down from 5.3% the week before. But the rate is significantly higher than 2.77% a year ago.
This is expected to boost the sentiment of investors and homeowners. Consequently, investing in ETFs that offer significant exposure to this market could be an ideal decision now.
