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Real estate groups urged the Fed to stop rate hikes. Here’s why._我的网站

一 |     Major housing industry groups voiced "profound concern" in a letter this week urging the Federal Reserve to stop raising interest rates.The rare public admonishment from top business advocates -- including the National Association of Realtors and the National Association of Home Builders -- underscores a dramatic slowdown in the housing market due in large part to rising interest rates.The letter arrives roughly three weeks before the Fed plans to make its latest rate-hike decision.Mortgage rates have reached their highest level in more than two decades and they have continued to rise. Data released on Thursday showed that mortgage rates increased for the fifth consecutive week, according to Freddie Mac."The speed and magnitude of these [mortgage] rate increases, and resulting dislocation in our industry, is painful and unprecedented," the letter from the housing groups said.Here's what to know about why real estate groups called on the Fed to stop raising rates:

What's happening in the housing market?

Sky-high mortgage rates have dramatically slowed the housing market, since homebuyers have balked at stiff borrowing costs and home sellers have opted to stay on mortgages that lock them into relatively low rates.Mortgage applications have fallen to their lowest level since 1996, the Mortgage Brokers Association said earlier this month.Sales of previously owned homes, meanwhile, have plummeted more than 15% compared to a year ago, the National Association of Realtors found in August.The slowdown has coincided with a sharp rise in costs for potential homebuyers.The average interest rate for a 30-year fixed mortgage has climbed to nearly 7.6%, Freddie Mac data shows.When the Fed initiated the rise of bond yields with its first rate hike of the current series in March 2022, the average 30-year fixed mortgage stood at just 4.45%.Each percentage point increase in a mortgage rate can add thousands or tens of thousands in additional costs each year, depending on the price of the house, according to Rocket Mortgage.

What role is the Federal Reserve playing in the housing market slowdown?

An aggressive series of interest rate hikes at the Federal Reserve since last year has pushed up the 10-year Treasury yield, which loosely tracks with long-term mortgage rates.The Fed has fought elevated inflation with borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand.While inflation has fallen significantly from a peak of about 9% last summer, price increases remain more than a percentage point higher than the Fed's inflation target.Price increases held steady in September, fresh data on Thursday showed, suggesting that elevated inflation remains resistant to the interest rate hikes.The persistence of elevated inflation has prompted the Fed to espouse a policy of holding interest rates at high levels for a prolonged period, which in turn has increased the 10-year Treasury yield and put upward pressure on mortgage rates.Moreover, the Fed expects to raise rates one more time this year, according to projections released last month.Speaking at a press conference in Washington, D.C., last month, Fed Chair Jerome Powell acknowledged the continued effect of interest rates on mortgages, noting that activity in the housing market "remains well below levels of a year ago, largely reflecting higher mortgage rates."

What do the housing industry groups want the Fed to do?

Housing industry advocates want the Fed to take swift actions that reassure investors and other market participants of an end to the policies cooling the industry.Most notably, the industry groups want the central bank to release a statement saying that it has abandoned consideration of additional rate hikes.In their letter to Fed officials, the housing groups cautioned that a further slowdown in real estate could help tip the U.S. economy into a recession, scuttling the central bank's effort to achieve a "soft landing.""We urge the Fed to take these simple steps to ensure that this sector does not precipitate the hard landing the Fed has tried so hard to avoid," the letter said.。    在竹溪，说起42180056号福彩投注站，当地许多人无不交口称赞。

二 | 站点负责人连胜万是经营多年的福彩老业主，十余年来，她始终以实际行动践行中国福利彩票“扶老、助残、救孤、济困”的发行宗旨，一桩桩暖心小事，让福彩公益之光洒满小城各处。2023年深冬，气温骤降，连胜万心系县河福利院孤寡老人，自掏腰包购置100双棉袜、50双棉鞋、50顶保暖棉帽，并添置一台广场舞音响设备，为老人们送去冬日暖意。“天冷了，老人们脚下暖和了，心里也就踏实暖和了。”朴素的话语、实用的物资，承载着她对老年群体的真挚关怀，也是她持续践行公益的初心。2024年5月31日，连胜万牵头组织全县福彩业主，在县环卫所开展“中国福彩，一起造福”公益慰问活动，为竹溪县321名环卫工人送上装有藿香正气水、矿泉水、毛巾、鸡蛋面等物资的爱心礼包。

三 | “福彩的初心是公益惠民，我们既要做好彩票服务，更要传递福彩正能量。

四 | ”连胜万诚挚邀请环卫工人随时到各福彩投注站歇脚、饮水、休憩。在她的带动下，竹溪全体福彩站点均设立爱心服务点，常年为环卫工人提供避暑御寒、临时休息的便民服务，让福彩公益扎根基层、服务民生。

五 | 2026年初夏的一天，下班途中一句环卫工的闲谈，让连胜万再次萌生慰问心意。烈日下劳作的环卫工人想要毛巾擦汗，却因十几元的开销舍不得购置，一句无奈的“算了吧”深深刺痛了她。她当即决定，为一线环卫工作者送上夏日清凉。次日一早，连胜万自费采购毛巾、防暑药品、口罩、矿泉水等清凉物资，亲手送到一线环卫工人手中。她连夜手写真挚的慰问信，现场深情朗读，致敬这群“城市最可爱的人”，感恩他们用汗水守护城市整洁。在十堰福彩管理站大力支持下，区域管理员全程参与、协同组织，保障活动暖心落地、惠及一线劳动者。暖心的举动让不少环卫工人动容，直言这份真挚情谊无比珍贵。

六 | 多年来，从关爱福利院老人到暖心慰问环卫工人，从寒冬送暖到盛夏送凉，连胜万的公益脚步从未停歇。

七 | 面对赞誉，她始终谦逊表示，福彩本身就是公益事业，践行公益是福彩人的分内之事。以连胜万为代表的基层福彩业主，始终坚守公益初心，积极投身各类民生帮扶、文明创建活动。没有轰轰烈烈的壮举，只有日复一日的坚持。

八 | 她用亲身经历告诉所有人：公益无需奔赴远方，美好就在身边；大爱不必声势浩大，贵在长久坚守。

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Published on:02:07:26