Craig Toberman discusses how increased inflation has led to high mortgage rates in the CBS News article “Why are mortgage rates so high?”
"The main reason mortgage rates are so high (and may go higher) is due to the increased inflation we have seen in the economy in recent years," says Craig Toberman, CFA, CPA, CFP, Founder of Toberman Wealth. "To fight inflation, the Federal Reserve must raise short-term interest rates to try to cool down the economy. This increase in short-term rates, and the threat of rates staying higher for longer, causes longer-term rates like mortgages to also rise."
If you are interested in hearing more of Craig Toberman’s thoughts on other retirement planning strategies, please book a call with him.
Craig Toberman is the Founder of Toberman Wealth – a fee-only, fiduciary financial advisor based in St. Louis. He assists families and businesses with strategic financial planning and long-term wealth management. He has over a decade of experience in financial services and has crafted custom financial plans for hundreds of families and businesses.
Craig received a Bachelor of Science (B.S.) degree in Agricultural and Consumer Economics from the University of Illinois and a Master of Business Administration (M.B.A.) degree in Finance from Saint Louis University. He is a Certified Financial Planner (CFP), Chartered Financial Analyst (CFA) charterholder, and Certified Public Accountant (CPA).
Craig is a member of the National Association of Personal Financial Advisors (NAPFA), Fee-Only Network, and XY Planning Network.
Craig lives in the greater St. Louis area with his wife, Ally and son, Hank.