The Federal Reserve raised federal interest rates by 75 basis points for the fifth time this year in order to combat inflation. This has caused mortgage rates to reach 15-year highs, making it more difficult for homebuyers. Experts suggest that homebuyers should 'date the rate', meaning they should look at the initial mortgage as a bridge to better financing later, and consider putting money aside each month for refinancing in the future. For those on the fence financially, it is suggested that they wait on the sidelines for a few months until home prices soften.