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EN
Home sales are positive but higher rates slowing demand
['Logan Mohtashami', 'Flávia Furlan Nunes', 'Brooklee Han', 'Jonathan Delozier', 'Richard Lawson', 'Housingwire Automation']
HousingWire
Weekly pending salesOur pending home sales data provides a week-to-week perspective, though results can be affected by holidays and short-term fluctuations.
This weekly pending sales data typically takes 30-60 days to be reflected in the sales data.
The year-over-year growth was only 0.2%, so again, the market is slowing down.
Let’s compare last week’s mortgage rates to where they would have been over the last three years, given the 10-year yield’s current level:If we had the worst mortgage spread levels of 2023, mortgage rates would be 7.98% today, not 6.81%.
today, not If we had the worst levels of 2024, mortgage rates would be 7.60% today.