Skyrocketing inflation is raising mortgages, putting first homes out of reach ...Middle East

Story at a glance The Consumer Price Index released from the Labor Department Thursday found that inflation increased in September by 0.4 percent and 8.2 percent over the past 12 months.  The latest report will most likely result in added pressure on the Federal Reserve to hike interest rates once more, and its trickle-down effect could lead to higher mortgage rates. These heightened costs, along with the prospect of a weakening economy, are adding pressure on both lenders and buyers. A new report showing inflation rising again in September is just the latest bad news for new homebuyers, who are increasingly seeing the cost of a first home pushed out of their r

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