Sky-High Mortgage Rates Leave Homes Unaffordable for More Buyers, Sending New Home Sales Tumbling | SOURCE: VINnews

LOS ANGELES (AP) — Sales of new U.S. homes hit a 5-month low last month as sky-high mortgage rates continue to strain prospective homebuyers’ ability to afford a dwelling. The pace slowed 8.7% in August from the previous month to a seasonally adjusted annual rate of 675,000 properties, the Department of Commerce reported this week. […]

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