Existing-home sales rose by 0.5% month-over-month to a seasonally adjusted annual rate of 4.13 million in November amid falling mortgage rates, according to the National Association of Realtors (NAR).
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“Existing-home sales increased for the third straight month due to lower mortgage rates this autumn,” said NAR Chief Economist Lawrence Yun. Yun added that home inventory growth has started to falter with winter seasonality leaving homeowners hesitant to list their properties.
Trump Promises Aggressive Housing Reform Plans
The 30-year fixed-rate mortgage currently sits at 6.21% after peaking at a year-to-date high of 7.04% in January.
Earlier this week, President Trump said that mortgage rates would continue falling in early 2026 and promised aggressive housing reform plans. In November, he floated a 50-year mortgage in order to lower monthly costs, although it seems that he has since stepped back from the idea.
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