U.S. Homebuying Demand Slows as Mortgage Rates Climb, Impacting Myrtle Beach Market Dynamics
U.S. homebuying demand has weakened significantly, with pending home sales falling to their lowest level since early April, according to recent market data. This slowdown comes as the daily average mortgage rate climbed to 6.85% at the end of July, marking its highest point in more than a year. The national decline in pending sales […]
U.S. Housing Payments Rise, Prices Hit Record High, With Implications for Myrtle Beach
The median U.S. housing payment recorded its first year-over-year increase since October during the four weeks ending June 28, signaling a tightening in the national housing market. This rise coincided with home prices reaching a record high and an uptick in mortgage rates across the country. The analysis, which was condensed due to the July […]