The U.S. central bank is aggressively raising its main interest rate to try to tame inflation, but it isn't working fast enough.

And yet the impact on the U.S. housing market has been swift.

Mortgage rates have more than doubled since September last year, leading to a dramatic decline in house sales.

So, how high do interest rates need to go before the Fed decides to ease off on the financial pain it’s doling out?

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