US Housing Market Stagnates: Mortgage Rates Rise and Listing Prices Fall
- 1The average 30-year fixed mortgage rate rose to 7.4% this month.
- 2The national median home listing price recorded $419,250 in September, a 1.2% decrease.
- 3The percentage of listings with price reductions in September stood at 21%.
So what's the key point?
Interest rates for home loans rose to 7.4%. The housing market is slowing down as home prices fall and more listings are being offered at lower prices.
Source Fortune · View original ↗
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