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Mortgage Rates on the Rise

My friend and one of Wells Fargo’s top mortgage associates, Bob Kaufman, emailed me this article which I found very interesting and I hope you will as well.

´╗┐With interest rates on the rise and the housing market slowing down across the country, it makes sense that there are fewer mortgage applications.

In Manhattan, we are very lucky. A large percentage of purchases are all cash. Personally, I see more buyers pulling money out of the stock market, saying they want to protect their gains and invest in a place they can live in and enjoy.

The market is not easy, but I have put several properties into contract this month.

Wondering why I’m in a ONE BLOCK t-shirt above?

In August of 2020, I founded (and still run) this terrific nonprofit. We use local volunteers as well as paid employees, who were formerly homeless or incarcerated, to help clean the streets of the Upper West Side.

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