Latest / Durham News Today | 2 Min News | The Daily News Now!
Housing Market Stalls Amid High Rates | Durham News
Mortgage rates stuck at 6.5% are grinding the housing market to a halt, chilling buyer enthusiasm and making sellers hold tight—afraid to lose out on value or face empty listings. Goldman Sachs calls the scene “stabilizing but subdued,” with rates likely to stay high thanks to global pressures and the Fed’s cautious stance, possibly even hiking later this year. Most homeowners are locked in with lower rates—80% have better deals, 60% are at least 2 percentage points cheaper—making selling and buying again financially risky. While sales may tick up slightly in the second half, they’ll still…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.