Reported about 15 hours ago
In a recent episode of Yahoo Finance’s Trader Talk, experts Kenny Polcari and John Lonksi discussed the implications of 7% mortgage rates on the housing market. While some anticipated that higher rates would suppress buying activity, both noted that buyers are adjusting to these rates, which are historically common. New home sales are increasing due to builder incentives, while existing home sales are lagging as current homeowners hesitate to sell and face higher financing costs.
Source: YAHOO