The Real Reason Mortgage Rates Aren’t Over 7%

On today’s Hot Sheet, Byron Lazine broke down the latest housing inventory trends, highlighting Logan Mohtashami’s Housing Market Tracker, which showed early signs of a slowing market as mortgage rates stayed above 6.64% amid geopolitical tensions and hawkish Fed rhetoric.

He also covered the NAHB/Wells Fargo Housing Market Index, where builder sentiment slipped again as more builders cut prices and offered incentives, along with fresh data from the National Association of REALTORS® and the U.S. Census Bureau showing weaker pending home sales, softer permitting activity, but a sharp rebound in housing starts and completions.