Fed Pauses Interest Rates With No Signal Yet of When Cuts BeginJanuary 31, 2024 – Media Mention
Real estate partner, Steve Lurie, provided his insights in a Commercial Observer article regarding the current status of interest rates set by the Federal Reserve.
While transaction volume is expected to pick up throughout the year, many sponsors will likely decide to hold off on pursuing loans until interest rates come down, according to Steven Lurie, a partner in the real estate group at Los Angeles-based law firm Greenberg Glusker. Lurie noted that a developer client he works with who is in the process of completing a new industrial building opted not to lock in a refinancing rate given the Fed’s recent signals.
“Last year at this time there would have been a rush to lock in the interest rate,” Lurie said. “And now it’s the opposite.”