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How Does the Increase in Prime Interest Affect the Construction Industry?

Author: 
RJC Creative Thinking Practical Results
Publication date:
January 3, 2023
Article Summary: 

How Does the Increase in Prime Interest Affect the Construction Industry?

The hike in interest rates has a variety of effects on the construction industry, including higher mortgage payments, decreased demand for new homes, delays in projects, increased construction costs, and a slowdown in new construction. To mitigate the rising costs, construction industry professionals can take steps such as monitoring interest rates, evaluating credit options, managing costs, and diversifying revenue streams. This will help mitigate the impact of rising costs and maintain their businesses' success.

Keywords: 

interest rates, borrowing costs

Source Citation: 
RJC Creative Thinking Practical Results
How Does the Increase in Prime Interest Affect the Construction Industry?
January 3, 2023
https://www.rjc.ca/rjc-media/blog/how-does-the-increase-in-prime-interest-affect-the-construction-industry.html
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