As mortgage rates rise, more buyers are being priced out

Rapidly rising mortgage rates may help to reduce housing demand this spring, as the worsening affordability causes more buyers to be priced out of the market, experts say. Mortgage applications are already down more than 6%, according to a report by Redfin. That suggests sellers may have to be more realistic when setting their asking

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New home sales declined in November amid rising prices

Sales of new homes fell by 14% in November, well below expectations, due to rising prices that analysts say are forcing many prospective buyers out of the picture. The report from the U.S. Census Bureau said that while sales fell in November, the median price of newly built homes rose by 19% from the same

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