Existing Home Sales Drop as Mortgage Demand Crashes

Existing Home Sales Drop as Mortgage Demand Crashes
Andy Dean Photography/Shutterstock
Bryan Jung
Updated:
0:00

Existing home sales fell in March, as higher interest rates continued to put pressure on borrowers, but some analysts believe that the housing market slump is nearing an end.

Rising mortgage rates last month were a likely factor in deterring buyers by adding downward pressure on housing values, as fewer borrowers can afford higher payments.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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