Weekly pending home sales show positive yearly growth but slowed recently, with last week at 70,209 compared to 69,183 the previous year. Mortgage purchase applications grew year-over-year but slowed from 12% to 5%. Mortgage rates ended the week at 6.64%, influenced by geopolitical tensions raising the 10-year yield near forecast peaks. Housing inventory is rising seasonally but at a slower rate than last year. New listings remain low, around 68,000 weekly. Price-cut percentages are slightly below last year.
Continue to full article
