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Housing Market Slows Amid Rising Rates | Real Estate News
Mortgage rates hit a ten-month high at 6.55%, cooling buyer enthusiasm as pending home sales plunge 5.4%—a stark reversal from May’s rush. High prices and soaring rates are crushing first-time homebuyer dreams, while inflation’s fragile rebound, fueled by falling energy prices, may not last amid geopolitical turbulence. Loan applications are down 7% for purchases, signaling a cautious summer market—though experts hint at potential relief if rates stabilize. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:advertise@thednn.ai This is an…
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