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U.S. New Home Sales Surge

Mortgage News > U.S. New Home Sales Surge
Date: 06/27/2018    U.S. New Home Sales Surge

Sales of new U.S. homes rose 6.7% to an annual pace of 689,000 in May, the highest level since November 2017, according to the Commerce Department. The jump was led by a rush of sales in the South, where purchases skyrocketed 17.9%, reaching a high not seen in over a decade.

Mortgage rates are likely to keep rising as the Federal Reserve tries to keep ahead of inflation, putting potential home buyers in a tough position of higher rates and higher home prices. 

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