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New home sales rebound, but builders are still wary

Housing Wire

Today the Census Bureau ‘ s new home sales report came in as a beat of estimates at 811,000. The bearish take on housing for the second half of 2021 didn’t really pan out, especially in the new home sales sector. Now that 2021 is wrapped up, we can see this is what happened and I believe that was misread by some people.

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. How long can this go on? If interest to finance a home is roughly twice the Fed funds rate of today, does that mean mortgage rates could hit double digits? So, we have a long way to go. figure of 8.3%.