CNN CNN Newsroom With Poppy Harlow and Jim Sciutto June 4, 2024 14:48:00
Sit out this market. new data this week shows that sales of existing homes in september fell nearly 24% compared to last year. and are down 1.5% compared to the previous month. so why are mortgage rates rising so much? well like many things in this chi, the answer lies with the fed as they try to cool inflation by slowing spending, it is raising the key interest rate and that impacts borrowing for us consumers including mortgage rates and in the housing market we're seeing slowdown in spending. existing sales have fallen for eight months in a row. but what about home prices. prices have yet to...
Source: archive.org