Housing Industry Urges Fed to Pause Rate Hikes As Market Strains Worsen

Housing industry officials urge Fed to stop raising rates due to housing market strains.

Officials warn more rate hikes could lead to a hard economic landing.

Housing costs have surged amid low inventory levels. Home sales are down over 15% from last year.

Fed rate hikes have exacerbated housing affordability issues. Mortgage rates near 8%.

Groups ask Fed not to raise rates further or actively sell mortgage holdings until housing market stabilizes.