Mortgage Rates Roused to 4.54% After Slipping for Weeks Courtesy of The Deem Team
"The next few months will be key for gauging the health of the housing market," says Sam Khater, chief economist at Freddie Mac. "Existing sales appear to have peaked, sales of newly-built homes are slowing and unsold inventory is rising for the first time in three years. Meanwhile, affordability pressures are increasingly a concern in many markets, as the combination of continuous price gains and higher mortgage rates appear to be giving more prospective buyers a pause. This is why new and existing-home sales are not breaking out this summer despite the healthy economy and labor market."