✉news BusinessReal Estate first seen 1 d ago, last 11 h ago, peak #8
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%
Sellers are cutting home prices at the highest rate in four years as mortgage rates climb back above 7%. The combination of elevated borrowing costs and price reductions signals growing strain in the housing market, with more homeowners forced to adjust expectations to attract buyers, according to industry reporting on the latest housing data.
Why now: Mortgage rates crossing back above 7% is putting fresh pressure on home prices, a concern for buyers and sellers alike.
mortgage ratesUS housing marketNational Mortgage Professional
Evidence
- Price Cuts Hit Four-Year High As Mortgage Rates Top 7% · National Mortgage Professional
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