Breaking Contractor Finance AnalysisBusiness, Finance & EconomicsThe Fed Raised Rates. Prime Is 7%. Big-Ticket Home-Service Financing Just Got Harder Again.The Federal Reserve raised its benchmark range to 3.75%-4.00%, major banks moved prime to 7%, and the 30-year mortgage rate reached 6.95%. For HVAC, plumbing, electrical, roofing and other high-ticket home-service contractors, the immediate lesson is not to panic-discount: measure how borrowing costs are changing approvals, payment choices, close rates and margins.TradeVulcan Dispatch Editorial Desk14 minTopic
Federal Reserve
Published Dispatch coverage connected to Federal Reserve.
1 published story
Breaking Contractor Finance AnalysisBusiness, Finance & EconomicsThe Fed Raised Rates. Prime Is 7%. Big-Ticket Home-Service Financing Just Got Harder Again.The Federal Reserve raised its benchmark range to 3.75%-4.00%, major banks moved prime to 7%, and the 30-year mortgage rate reached 6.95%. For HVAC, plumbing, electrical, roofing and other high-ticket home-service contractors, the immediate lesson is not to panic-discount: measure how borrowing costs are changing approvals, payment choices, close rates and margins.TradeVulcan Dispatch Editorial Desk14 min