✉news BusinessReal Estate first seen 9 h ago, last 5 h ago, peak #20

US Home Sales Contracts Hit Record Low as Mortgage Rates Reach 7.4%

Original: Home Sales Contracts Just Fell to a Record Low as Mortgage Rates Hit 7.4%

Pending home sales contracts in the United States have fallen to a record low, according to reporting citing mortgage rates climbing to 7.4%. The combination of steep borrowing costs and high home prices is leaving buyers sidelined and sellers reluctant to list, deepening the freeze in the housing market. Commentators warn the slowdown could weigh on the broader economy if rates stay elevated.

Why now: Mortgage rates near 7.4% are pricing out buyers and stalling the housing market, making the record-low contract figures a timely concern.

United States housing marketmortgage lenders24/7 Wall St.

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• Home Sales Contracts Just Fell to a Record Low as Mortgage Rates Hit 7.4% · 24/7 Wall St.

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