US New Home Sales Surged In March As Mortgage Rates Tumbled, But...

US New Home Sales Surged In March As Mortgage Rates Tumbled, But...

New home sales soared 7.4% MoM in March (dramatically better than the +1.3% MoM expected), lifting sales up 6.0% YoY...

?itok=M-nnuVwZ

But...

While new home sales soared amid the tumbling mortgage rates, April has seen rates surge back up to 7.00%, suggesting this sudden sales spike will be short-lived...

?itok=NoLNqd9w

And if confirmation was needed, the more timely 'mortgage applications' data shows a major plunge in the last two weeks...

?itok=f9_2EIcW

...and if you're hoping for lower rates to keep the American Dream alive, that will likely come at the cost of a recessionary environment...

?itok=IvVVnyFn

...not exactly a great background for homebuyers, whose sentiment already languishes at record lows...

https://cms.zerohedge.com/users/tyler-durden

Wed, 04/23/2025 - 10:10

https://www.zerohedge.com/personal-finance/us-new-home-sales-surged-march-mortgage-rates-tumbled