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Weekly Market Observations — January 31, 2023
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Here’s Our Weekly Market Observations:
This week the Fed expected to increase rates by 0.25%, marking the 8th consecutive rate hike
The Biden Admin released a "Blueprint for a Renters Bill of Rights" and announced plans for new tenant protections
Multifamily new construction permits down nearly 22% YOY
Single-family new construction permits down almost 35% YOY
Average 30yr fixed mortgage rates down slightly to 6.13%
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