Real Estate
Mortgage rates tick up as home sales stay in focus
A higher weekly mortgage rate adds to the housing backdrop after reports of soft June sales and record prices.
The housing data backdrop stays under pressure. CNBC reports June home sales disappoint while prices hit an all-time high, and the 30-year fixed mortgage rate rises to 6.49% from 6.43% a week earlier.
In the market data, Real Estate is up 0.2%, a modest gain that trails the broader equity rally. The sector sits well below the big tech-led move, but it does stay positive on the day.
Housing-related headlines in the category center on policy and deal flow, including updates on FHFA, GSE condo loan changes, and the Dream Finders-Beazer story. The data itself, though, points to a market still wrestling with financing costs.
Case-Shiller is listed at 332.678 for April, up from 330.132 in March.