While existing home sales edged up in September, the bigger picture is that they remain below the 4m annualised mark associated with a very weak market, weighed down by elevated mortgage rates. Moreover, with 30-year fixed mortgage rates surging to a three-year high of 7.5% in the final week of September, we expect sales to come under renewed pressure over the next few months.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
