The Federal Reserve has announced a 0.25% increase in short-term interest rates to battle inflation, and many are wondering how that will impact the home lending market in South Florida, where house prices are soaring.

The real estate industry expected the rate hikes, according to Pat Sheehy, CEO of mortgage lender Hamilton Home Loans in Sunrise, who said the market had already put the increase into the pricing for mortgages.

. Pat Sheehy, CEO of Hamilton Home Loans. Courtesy photo Pat Sheehy, CEO of Hamilton Home Loans.

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