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Article: Industry keeps eyes on climbing interest rates. (real estate industry concerned about federal interest rate)
- Article from:
- Real Estate Weekly
- Article date:
- November 30, 1994
- Author:
CopyrightCOPYRIGHT 1994 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The recent jumps in Federal interest rates, particularly the last one of three-quarters of a point, has the real estate industry jittery. Executives agree commercial deals at any cost are scarce and will probably not be affected one way or the other by the higher interest rates, but the residential market is concerned overall.
While some deals are still going through as buyers try to lock-in rates before they go up even further, other residential buyers are backing off or rethinking their needs. There is agreement that first-time buyers will be the group that is most likely to be affected, and indeed, sales have slowed considerably around the country.
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