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Wealthy Borrowers Face Higher Interest Rates as Fed Policies Shift

Sheila Smith was scheduled to take out a mortgage for approximately $750,000 earlier this year to purchase an investment property in Sedona, Arizona. The lender, a regional bank, offered an initial interest rate of about 5%, well below the usual rate.

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2023-08-21 07:48:22
#Wealthy #mortgage #borrowers #longer #interest #rates #Feds #fault

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