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Interest Rates Inch Upward

Posted by admin on 5th July 2015
| Blog
| 0

New York, NY – Fed Chair Janet Yellen has finally made good on her promise to start raising interest rates. Hesitant homebuyers hoping for more favorable market conditions (i.e., new inventory), are realizing that the time to close on a new apartment is now regardless of the competition. If rising interest rates weren’t enough to convince us, here’s another reason: the mansion tax.Mayor de Blasio’s proposed housing reforms, including lower tax breaks and a rise in the mansion tax on units over $1.75M  have the support of the Real Estate Board of New York and will likely take effect next year. The message is clear. The time to buy is now!

 

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