Latest / Real Estate News Today | 2 Min News | The Daily News Now!
Housing Market May Have Peaked in July | Real Estate News
Housing market momentum may have peaked in July, as rising mortgage rates and cooling buyer demand signal a potential slowdown ahead. New data from Zillow, Redfin, and the Mortgage Bankers Association show mortgage applications, refinance activity, and pending home sales all dipped sharply — with refi apps down nearly 3% week-over-week and pending sales hitting their steepest weekly drop since 2022. While existing home sales rose in July, forward indicators paint a gloomier picture for the rest of the year. Rates climbed above 6.8% on a 30-year fixed loan, squeezing affordability and pushing…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.