The Federal Reserve’s decision to raise interest rates could cause a flurry of development deals in Tampa Bay, a land broker said.
The Fed on Wednesday raised interest rates by 25 basis points — the first raise since 2006. Interest raises have been close to zero percent since 2008.
Locally, the first spike in rates probably won’t make much of a difference, said Mark Eilers, director of land services with Colliers International Tampa Bay. But it could put pressure on some multifamily developers… …read more