This is a narration of our weekly Rent and Operating Trends Report. The U.S. economy remains on very shaky ground as the Fed continues to tighten monetary policy quickly. Last week, the Fed increased interest rates 75 basis points, the largest single increase since 1994. As the central bank tries to curtail inflation, the multifamily industry is beginning to feel the effects of higher interest rates. Multifamily mortgage rates have increased significantly over the past 6 months, and borrowing costs now exceed cap rates for many deals. As a result, properties are staying on the market for longer, trading at lower prices, or being pulled off the market altogether. Tune in to find out more information on multifamily dynamics during the week of June 19th.
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