Mortgage Rate Dip: Pending Home Sales Reach Highest Level Since May

על הפרק

This week, a short dip in mortgage rates gave the U.S. housing market a brief boost. Buyers who had been waiting for slightly lower borrowing costs returned, pushing pending home sales to their highest level in nearly two months. During the four weeks ending July 5, pending sales increased 1.3% from the previous week, the strongest reading since early May. Even a temporary decline in rates, like the drop to 6.43% on July 2, can encourage buyers to sign contracts before rates rise again. While rates briefly eased, home prices remained close to record highs. The national median sale price reache