The Manhattan property market has slowed significantly due to increasing mortgage rates. Today’s Wall Street Journal shows the 30-year mortgage rate at 6.67 percent. For context, the 30-year rate was at 3.01 percent a year ago in September 2021.
Read full article here: Mortgage rates softens Manhattan property market
About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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