Housing Market Reacts to Rising Interest Rates | Episode 122 | 04-16-2024

Markets with Megan: A Quick Financial Markets Update · Apr 16, 2024 · 2m · transcript

In this episode, Megan discusses the latest economic data impacting the housing market. Despite hopes of stabilization, higher interest rates are once again disrupting the housing sector. There has been a significant 14.7% drop in housing starts—the largest since April 2020—in both single and multifamily housing units. There has also been a 4.3% decline in building permits, especially for single-family homes, raising concerns for future construction. With mortgage rates exceeding 7% for two consecutive months, there are mounting challenges facing the housing market. Stay connected for more…