U.S. HOME SALES AT HISTORIC LOW.🚨
The NAR’s index of signed contracts fell again in September, dropping below even the depths of the 2008 crisis.
Take a look at the chart. The housing market has been weak since 2022, when interest rates started rising.
The 30-year mortgage rate is back at its highest level in nearly three years.
Those with cheap mortgages aren’t selling, and those who want to buy can’t afford the payments.
Against this backdrop, the market will start to realize that the FED doesn’t have much room to raise interest rates.
Either it accepts high inflation, or something breaks. Which will it be?
The NAR’s index of signed contracts fell again in September, dropping below even the depths of the 2008 crisis.
Take a look at the chart. The housing market has been weak since 2022, when interest rates started rising.
The 30-year mortgage rate is back at its highest level in nearly three years.
Those with cheap mortgages aren’t selling, and those who want to buy can’t afford the payments.
Against this backdrop, the market will start to realize that the FED doesn’t have much room to raise interest rates.
Either it accepts high inflation, or something breaks. Which will it be?