Pushed Too Hard By The Fed? Existing Home Sales Drop -4.9% From December As Mortgage Rates Remain Near 7% (Mortgage Rates UP 164% Under Biden!)
by confoundedinterest17 Did Jerome Powell and The Federal Reserve push markets too hard? Sales of existing single-family houses, townhouses, condos, and co-ops that closed in January dropped by 4.9% from December, seasonally adjusted, to an annual rate of 4.08 million sales, according to the National Association of Realtors today. This rate of sales was up just 2.0% …