The thing is that the interest rates need to stay higher for a long time (many years). Many home owners and speculators have fixed interests on their loans. It is not until they have to be renewed that they feel the effect of the higher interest rates. So unfortunately it will take time.
The thing is that the interest rates need to stay higher for a long time (many years). Many home owners and speculators have fixed interests on their loans. It is not until they have to be renewed that they feel the effect of the higher interest rates. So unfortunately it will take time.