The Latest: Shares in homebuilders fall ahead of Fed meeting
WASHINGTON/ June 13, 2018 (AP)(STLRealEstate.News) — The Latest on the Federal Reserve policy meeting (all times local):
Homebuilders are taking a beating on Wall Street ahead of Wednesday afternoon’s Federal Reserve meeting, where analysts are expecting a rate increase.
The Fed’s rate hikes can translate into higher interest rates for credit card holders and homeowners with adjustable-rate mortgages or home-equity lines of credit.
The construction industry is already wrestling with rising costs for labor, material and available land.