Housing Market Hits Record Lows Amid Fed Rate Hike Plans — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- U.S. housing market shows signs of a deep freeze in September data, with pending home sales falling to a record low amid elevated mortgage rates
- Homebuilder sentiment dropped to its lowest level in 14 years, according to a National Association of Home Builders index report
- Federal Reserve is weighing additional interest rate hikes despite growing evidence of cooling in the housing sector
- Mortgage rates have remained at or near multi-decade highs, contributing to reduced affordability and suppressed buyer demand for new homes
Why it matters: With homebuilders pulling back and buyers sidelined by high borrowing costs, further Fed rate hikes could deepen the housing slump, delaying inventory relief and prolonging affordability challenges for millions of would-be buyers already priced out of the market.
Ask SkimNews
