A cabinet maker in North Carolina is seeing interest rates slow down home development. His clients in the Outer Banks though, pictured here, are moving ahead as normal.

A cabinet maker in North Carolina is seeing interest rates slow down home development. His clients in the Outer Banks though, pictured here, are moving ahead as normal. / LightRocket

The Beigie Awards are back to recognize the regional Federal Reserve Bank with the best Beige Book entry. This time, we shine a spotlight on one entry that explains how some businesses are feeling the impacts of higher for longer interest rates.

Related episodes:
The interest-ing world of interest rates (Apple / Spotify)
The Beigie Awards: Why banks are going on a "loan diet" (Apple / Spotify)
Where are interest rates going?

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Tags: Beige Book  housing developments  The Indicator  high interest rates