Latest / Markets with Megan: A Quick Financial Markets Update
Bad Housing News: Home Sales Drop 7.3% | S3 E174 | 10-20-26
Housing data came in well below expectations this week. Housing starts fell 5.2% when markets expected an increase, and pending home sales dropped 7.3% to a record low. Megan Horneman, CIO of Verdence Capital Advisors, breaks down the numbers and what is driving the slowdown in the housing market.
Mortgage rates ended September at 7.3%, the highest in three years, and home builders are dealing with rising material costs and uncertainty from tariffs and supply disruptions. Housing is a small slice of GDP, but a slowdown can ripple into spending on things like furniture and electronics. Stocks…
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