Mortgage Rates Spike, Home Sales Drop for 7th Month, and Suddenly Here Come the New Listings

by Wolf Richter, Wolf Street: But it doesn’t yet reflect the recent spike in mortgage rates to 4.5%. OK, the “existing home sales” data released today by the National Association of Realtors was for February, and in February the average mortgage rates were a lot lower than today. In mid-February, the average conforming 30-year fixed […]