Mortgage Rate Blahs 8/31/26
Summary
Jessica Ettinger reports that motivated home sellers are lowering asking prices as the summer housing market slows. Buyers remain hesitant, waiting for mortgage rates to drop, but rates have surged to near 7% due to geopolitical tensions and Fed pressure. CNBC’s Diana Oleg explains that these factors have stalled a potential real estate turnaround, keeping the market in a slump for four years.
Topics discussed
Motivated sellers cut prices as summer winds down
Geopolitical tensions and Fed pressure hinder housing
Mortgage rates near one-year highs around 7%
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