April 13th 2022
CityRealty
Earlier this spring, the Federal Reserve approved the first interest rate increase since December 2018 in a move that they hope will curb inflation without affecting economic growth. It remains to be seen how this will impact New York’s record-breaking real estate market, though. Last week, the purchaser of a record-breaking Harlem townhouse closed the sale on the last possible day before having to renegotiate a new, likely higher mortgage rate.