US Pending Home Sales & Mortgage Apps. (Aug. 2026)
30-year fixed mortgage rates nearly hit 7% in the week ending 11th September and are likely to have risen further since, with the 10-year Treasury yield – their closely correlated benchmark – briefly trading above 5%, its highest level in 19 years. We have decided to downgrade our existing home sales forecast, and now expect sales to average 3.90m annualised in Q4, before recovering slightly to 4.15m by end-2027.
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