Marketwatch (July 14)
2023/ 07/ 15 by jd in Global News
“Only 9% of all existing mortgages in the U.S. were taken out with a rate of above 6%,” with a majority of mortgages at rates below 4%. As a result, “the supply of new homes has been severely constrained by this imbalance…. New listings — a measure of how many sellers were putting up their homes for sale — were down 27% in early July versus a year ago.”
Tags: 4%, 6%, 9%, Constrained, Existing mortgages, Homes, Imbalance, New listings, Sale, Sellers, Supply, U.S.
