New Home Sales Tumble Again As Mortgage Rates Crimp Affordability
Mortgage rates have been on the rise as the Federal Reserve begins reversing the easy-money policies it implemented about two years ago at the start of the COVID-19 pandemic. As of Wednesday, the average 30- year fixed-rate mortgage was 4.16%, up more than 1 percentage point from a year before, according to Freddie Mac. "The outlook for new home sales is filled with…
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