Higher Interest Rates Shock Developers via Multifamily Executive Magazine

Building apartments just became a lot more difficult. The interest rates developers pay for construction loans have risen sharply in the past several months, and they are set to increase even higher. At the same time, fewer lenders are making loans. Interest rates are just one part of the rising cost of development, but they are still a major problem for developers. Many are scrambling to protect themselves from rising rates or make up for the cost in some other part of their construction budgets.

Read more...Higher Interest Rates Shock Developers via Multifamily Executive Magazine