The federal reserve raised interest rates. What does that mean for home buyers?

“The recent rate increase is unlikely to affect the luxury real estate market, largely because the majority of high-net-worth luxury buyers are buying in cash, or when they do choose to finance, they finance because the rates are advantageous,” said Bonnie Heatzig, executive director of luxury sales at Douglas Elliman in Boca Raton, adding that the lack of inventory available will have the largest impact on those buyers.

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