U.S. Housing Market Hits New Low as Mortgage Rates Surge and Home Construction Slumps

U.S. Housing Market Hits New Low as Mortgage Rates Surge and Home Construction Slumps

American homebuyers are retreating from the market as mortgage rates climb above 7%, sending pending sales to their lowest level on record while builders cut ... The post U.S. Housing Market Hits New Low as Mortgage Rates Surge and Home Construction Slumps first appeared on [your]NEWS.

New Housing Numbers Highlight an Affordability Challenge Republicans Should Not Ignore

New housing data reveals affordability challenges for buyers amid rising mortgage rates and low construction.

American Dream Of Homeownership Slips Further Away As Construction Falls

US single-family housing starts fell 4.6% in September as mortgage rates hit 7.4%, squeezing homebuyers and forcing builders to cut prices.

American dream of homeownership slips further away as construction falls - The Daily Bo Snerdley

American homebuilders broke ground on fewer houses in September as surging mortgage rates and construction costs delivered another setback to the nation’s already strained housing market. New Census Bureau data released Tuesday showed single-family housing starts falling 4.6%, while permits for future single-family construction dropped 4.0%. The pullback came as the average 30-year mortgage rate climbed to 7.40% and builder confidence sank to it…