A chill settled on the metro Denver housing market last month as the typical end-of-summer slowdown combined with higher mortgage rates to drive sales down by a fifth compared to August, according to a monthly update from the Denver Metro Association of Realtors.
Denver mortgage rates hit a 22-year high in August, surging to 7.5% on a 30-year loan before falling back to around 7% on news of slower-than-expected job gains this month.