
Domino effect: How the Fed’s interest rate cut impacts Phoenix home prices
With the Federal Reserve cutting the benchmark federal funds rate by half a percentage point to the 4.75%-5% range, Arizona’s residential real estate brokers are seeing renewed homebuyer activity.Right after the Fed’s rate cut, Greg Hague, CEO of Scottsdale-based 72Sold, said he saw an immediate surge of buyer inquiries.They wanted to know if they could…