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Fed raises interest rates, new bill blocks foreclosures, & more

By Emily Myers | May 5, 2022 - 10:30AM

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The Federal Reserve raises interest rates by half a percentage point—the highest increase in 22 years (CNN)

Owners at risk of foreclosure could get relief with the passage of a bill countering a court ruling in favor of lenders (The City)

Millions of renters brace for steep hikes ahead of the vote by the Rent Guidelines Board (Gothamist)

Sales launch at The Brooklyn Tower, Brooklyn’s tallest apartment building, with studios starting at $905,000 (press release)

Manhattan sales volume shows signs of slowing down as mortgage rates rise (The Real Deal)

Co-op and condo boards can get free inspections for decks, porches, and retaining walls–without the risk of violations—throughout May (Habitat Mag)

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