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Housing Market changes shouldn’t impact city projects

February 1st, 2023 by WCBC Radio

Skyrocketing interest rates through most of 2022 put some much-needed pressure on the housing market after home prices hit record highs across the nation. However, since December, mortgage rates have been on a steady decline which continues now into February.  While the housing market slowing may seem like bad timing for Cumberland where local officials have invested in a number of housing projects in recent years- and have even more in the pipeline- Mayor Ray Morriss is not discouraged…