New home sales in the United States surged higher in September from the month before, even as mortgage rates remained over 7%, making financing a home costlier and pushing people out of the market.
Mortgage rates are nearing 8%. Prices have climbed for the past three months straight. And there were fewer homes on the market in September than any September ever. No wonder home sales just hit a 13-year low. It is a crummy time to try to buy a house.
Washington, DC (CNN) — Home sales dropped in September to the lowest level since the foreclosure crisis as surging interest rates and climbing home prices made buying a home unattainable
Washington, DC (CNN) — Home sales dropped in September to the lowest level since the foreclosure crisis as surging interest rates and climbing home prices made buying a home unattainable