The average rate on a 30-year home loan climbed to 5.78% last week, the highest its been since November of 2008
Existing home sales fell 3.4% last month from April to a seasonally adjusted annual rate of 5.41 million, the National Association of Realtors said Tuesday.
Even as home sales slowed, home prices kept climbing in May. The national median home price jumped 14.8% in May from a year earlier to $407,600. That’s an all-time high according to data going back to 1999, NAR said. during the housing crisis, according to mortgage buyer Freddie Mac.
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