Home sales have plummeted to their lowest in 13 years as 8% mortgage rates batter the housing market

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Mortgage home sales
Sky-high mortgage rates keep battering the US housing market, with the 30-year fixed mortgage clocking in at 8% this week.

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A government shutdown would impact 1,300 home sales each day as insurance program expires

Tech Insider : Economy
A for sale sign.
A for sale sign.

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The housing market is seeing more buyers get cold feet as mortgage rates soar

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An above shot of houses, yards, and streets.
US housing market

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The housing market is stuck: Americans can't afford homes, investors aren't buying property, and economists see little relief ahead

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The housing market is stuck thanks to high prices, high mortgage rates, and low inventory.
The housing market is stuck thanks to high prices, high mortgage rates, and low inventory.

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