Episode Details

Housing market hits a bump—then stalls: July saw a 7% jump in home sales, fueled by lower June rates, but rising mortgage costs are cooling demand. Rates now average 6.69%, up from last week and higher than a year ago for the first time in 44 weeks. Applications dropped nearly 3% in late July, with both buying and refinancing down year-over-year. While inventory and new listings are up, economists predict July’s surge may be peak—with elevated rates likely to keep buyers sidelined. Watch for jobs and inflation reports to shift the trend.

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