Real Estate

Mortgage rates aren’t sending signal homebuyers need on affordability

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A new housing development built along a canal near the Mokelumne River is viewed on May 22, 2023, near Stockton, California.

George Rose | Getty Images

Lawrence Yun has as big a stake in the Federal Reserve’s moves as any economist: As the chief economist for the National Association of Realtors, his industry is a target of the Federal Reserve’s efforts to tame inflation with higher interest rates.

But the housing’s industry’s bigger problem right now may be the bond market, and specifically, spreads between treasuries and mortgage rates that suggests homebuyers’ economic challenges may not decline even as the Federal Reserve is nearing the end of its interest-rate hikes. There is a…



Source cnbc.com

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