Billionaire real estate investor Sam Zell says don't take too much comfort in declining mortgage costs, and the Fed will keep hiking rates close to 6%

Dec 9 2022 by Business Insider

 
Sam Zell, founder and chairman of Equity Group Investments.

REUTERS/Richard Brian

The Fed will need to rate interest rates closer to 6% to meaningfully ease inflationary pressures, said legendary property investor Sam Zell.  A "shocking event" was mortgage rates more than doubling this year, the billionaire told Fox Business.  Zell also sees the US economy falling into a recession. 

There's little comfort to be had in a recent softening in mortgage rates because the Federal Reserve is...

Continue Reading Billionaire real estate investor Sam Zell says don't take too much comfort in declining mortgage costs, and the Fed will keep hiking rates close to 6%