The small rebound in existing home sales in July seems underwhelming after last month’s large drop in mortgage rates, but the data are based on completed transactions and so it will take at least another month to show the impact of lower borrowing costs. We expect lower borrowing costs to trigger a recovery in activity this year, albeit a tepid one.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.