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Week of Oct. 6th-Americans are growing concerned by the growing threats of an economic slowdown

October 6, 2019

Americans are growing concerned by the growing threats of an economic slowdown, but that doesn’t seem to be affecting housing. Recent housing reports are showing that lower mortgage rates are buoying buyer demand into the fall months.

“Despite fears of an economic slowdown, the housing market continues to be a bright spot in the economy,” says Sam Khater, Freddie Mac’s chief economist. “While mortgage rates have ticked up in recent weeks, they remain lower than they were a year ago, which will help boost sales headed into the fall.”

Freddie’s forecast follows on the heels of several housing reports last week that suggested a solid housing market. Existing homes rose to the highest level in 17 months in August, according to the National Association of REALTORS®’ latest report. More new homes are entering the pipeline as well: Housing starts and building permits surged to a more than 12-year high in August, the U.S. Commerce Department reports. Further, for the second time in three months, new-home sales rose above 700,000 as more home buyers weigh new-home construction. (Read: Home Sales Up for Second Consecutive Month and More New Homes Are Entering the Pipeline)

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