General World News

Housing Market Tracker: Inventory drops by 11,000

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory.

Here is a quick rundown of the last week:

  • Purchase application data was down 6% weekly.
  • Weekly inventory fell much more than the previous two weeks, down 11,021; new listing growth had its lowest weekly calendar print for this previous week.
  • The 10-year yield attempted to reach my peak forecast level for details ⇒

    BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com