The College of Business at Auburn University Montgomery is helping to make sense out of rising interest rates.
Dr. Ross Dickens is the Dean of AUM’s College of Business and a professor of finance, specializing in banking and monetary economics.
The dean says government spending during the pandemic played a large role in the nation’s current situation. “The difference between paying, say, 3% versus 4% can add to a lot of people at least $100, $150 a month,” Dickens calculates. “And while that may not seem like a lot for a month, when you add it up over a year, that means a lot of people get priced out of the housing market, or they can’t afford the houses that they wanted to originally.
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