CLEVELAND, Ohio —
Rates are up more than two percentage points since Jan. 1, but they’ve remained relatively steady over the last few weeks. Data from Freddie Mac comes out on Thursdays. The organization said the average was recorded before the Federal Reserve announced Wednesday afternoon that it would raise its benchmark rates.Freddie Mac economist Sam Khater said the hot housing market is clearly cooling down.
The National Association of Realtors said existing home sales were down in June, according to data released July 18. Sales were down 5.4% compared to May and down 14.2% compared to June 2021.
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