Sales of new U.S. single-family homes fell more than expected in October, likely as higher mortgage rates reduced affordability.
Categories: 30-year fixed-rate mortgageaffordabilityApollo Global ManagementBusinessCommerce DepartmentECONOMYFederal ReserveFreddie Machome resalesHousing Marketinflationinterest ratesleading indicatorMonetary policyMortgage RatesNational Association of Realtorsnew home salesNew U.S. single-family homesNew YorkOctoberpre-pandemic levelpreviously owned propertiesresidential investmentThird QuarterTodays HeadlinesTorsten SlokU.S.U.S. central bankyear-on-year basis