LIVINGSTON, NJ—Multifamily property prices and sales activity are not likely to see much impact from the Federal Reserve's first interest rate increase in several years, Gebroe-Hammer Associates president Ken Uranowitz tells GlobeSt.com exclusively.
This is the first time in over nine years the Fed is lifting rates thanks to a steadily growing economy. Since December, 2008, rates have hovered between zero and 0.25 percent.
"What's interesting is that the 10-year [Treasury] bill, since the announcement was made, has gone down 10 basis points," Uranowitz said Friday afternoon.
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