Rent hikes for the city’s about one-million rent-stabilized apartments will begin for tenants whose leases renew on Tuesday.

One-year leases are going up 2.75%, and two-year leases are increasing 5.25%.

While some people say this will exacerbate the already high-price of living, landlords argue the increases are necessary to keep up with rising costs and buildings maintenance.

Meanwhile, this month, the Fed cut interest rates for the first time in four years.

Rates were cut by half a point, paving the way for lower borrowing costs on everything from car loans, credit cards, to mortgage rates.

It came as interest rates had reached a 23-year high.

Noble Black from Douglas Elliman Real Estate joined “The Rush Hour” on Monday to discuss how the Feds latest move is impacting real estate in New York, as well as the state of the real estate market in general.