TREE NEWS reports: National Association of Realtors chief economist Lawrence Yun said US mortgage rates and home sales move inversely, so the modest decline in buying activity amid high rates is unsurprising. Buyers have not collapsed, with job and wage growth supporting demand, though mortgage rates may soon hit 7%.
NAR’s Yun: Mortgage Rates Near 7% Weigh on US Home Sales
AI take
The signal here is the tension between affordability and labor income: rates near 7% are cooling transactions without breaking demand, because employment and wages are still doing the work. That matters for anyone watching housing's drag on consumption and for markets pricing the path of rates. Whether buyers keep absorbing higher financing costs, or whether the labor backdrop softens first, is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
4m ago
IMF Board Able to Consider Senegal Loan Program
5m ago
Iron Ore Falls About 1.1% in Night Session; Fuel Oil Rises About 3.6%
6m ago
Trump Announces $500 Refund Checks for Nearly 1 Million Americans Over Obamacare
13m ago
Raw Sugar Futures Hit 17-Month High on Indian Imports, Brazil Delays
20m ago
Goldman Sachs Raises Q4 2026 Dutch TTF Gas Price Forecast to EUR 70/MWh
22m ago
US diesel futures top $5 a gallon for first time since 2022