Home sales hit 16-year low in October amid record-high mortgage rates

3 sources3 articles First seen 4 hours ago Updated 2 hours ago United States Truth score 51

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Summary

Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high US existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday. Sales of previously owned U.S. Covered by 3 outlets: 1 lean left, 2 lean right.

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The Guardian Left Factuality: Very high GB 2 hours ago
Home sales hit 16-year low in October amid record-high mortgage rates
Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high US existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data...
Breitbart News Right Factuality: Mixed US 3 hours ago
Existing-Home Sales Plunge to 16-Year Low as Mortgage Rates Climb
Sales of previously owned U.S. homes fell sharply in October to their lowest level in more than 16 years, as rising mortgage rates squeezed buyers already struggling with high prices. Existing-home sales dropped 5.5 percent from September to a seasonally adjusted annual rate...

Mixed reliabilityElevated risk
Zero Hedge Right Factuality: Low US 4 hours ago
Existing Home Sales Crash To 16 Year Lows In October
Existing Home Sales Crash To 16 Year Lows In October US existing home sales plunged 5.5% MoM in October (worse than the 3.5% MoM exp), pulling sales down 8.76% YoY with mortgage rates near multi-decade highs... The October collapse drags existing home sales SAAR to 3.75...

Low reliability sourceElevated risk