https://www.wsj.com/livecoverage/fed...ates-june-2022
Quote:
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New projections showed all 18 officials who participated in the meeting expect the Fed to raise rates to at least 3% this year, with at least half of all officials indicating the fed-funds rate might need to rise to around 3.375% this year.
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Someone more knowledgeable on this please correct me if I'm wrong, but doesn't the BOC typically lead the Fed by about .5 of a percentage point? That'd put our BOC rate at 3.5% to 3.8% by year-end, and Prime rate at about 5.5% to 6.0%.
These Prime+1% HELOCs may very well be paying 6-7% interest by end of 2022.