U.S. Pending Home Sales Decline as Mortgage Rates Reach Year-High, Impacting Knoxville Market
The national housing market experienced a notable downturn in the final week of July, with pending home sales falling 1.7% and reaching their lowest level since early April. This contraction coincided with a sharp increase in borrowing costs, as the daily average mortgage rate climbed to 6.85%, marking its highest point in more than a […]