Rising mortgage rates prompt Realtors to cut annual sales forecast
Existing-home sales dropped 3.6% in March and prices rose, prompting the National Association of Realtors to lower its annual sales forecast amid climbing mortgage rates.
Sales of existing homes fell 3.6% in March even as prices climbed. The National Association of Realtors lowered its annual sales forecast, citing rising mortgage rates as the reason for the weaker outlook.