NAR Chief Economist Lawrence Yun, "Consistent job gains and rising wages are modestly helping the housing market, with hourly wages increasing faster than home prices. However, mortgage rate fluctuations are the primary driver of homebuying decisions and impact housing affordability more than wage gains."
There is hope that rate cuts will help US mortgage rates but there's a fair chance that the long end moves up if the market isn't confident of getting inflation under control.
Read More Details
Finally We wish PressBee provided you with enough information of ( US May pending home sales +1.8% vs +0.1% expected )
Also on site :
- Deaths reported during protests in Kenya (VIDEO)
- Indian refineries ramp up Russian crude purchases – Bloomberg
- Man accused of pointing gun at troopers during I-90 standoff set to be arraigned