09/16/2026
THE FED JUST RAISED RATES FOR THE FIRST TIME IN MORE THAN 3 YEARS.
In a unanimous 12–0 vote, the Federal Reserve raised interest rates by 25 basis points, marking its first rate increase since July 2023.
And they may not be finished.
Most Fed policymakers submitting projections expect another 25-basis-point increase before the end of the year, as inflation remains above the Fed's 2% target.
So, if you've been waiting for rates to come down, that's not happening yet.
For commercial real estate, the implications are significant.
Higher rates mean more expensive debt, tougher refinancings and continued pressure on property values. They can also keep the gap between buyers and sellers wider for longer.
For multifamily investors, underwriting discipline matters more than ever. Deals need to work with today's cost of capital, not with the hope that cheaper debt will save the investment later.
But pressure also creates opportunity. Owners facing loan maturities, refinancing challenges or capital needs may become increasingly motivated to transact.
Higher for longer is still the reality.
What are your thoughts?