# Homebuying Slows Amid High Rates | Business and Finance News

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Text version: https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192/homebuying-slows-amid-high-rates-business-and-finance-news.md
Podcast: [Business News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192)
Published: 2026-07-11T17:05:24+00:00
Episode link: https://sources.thednn.ai/65606feb57e0b2a3
Audio file: https://api.fastcast.ai/audio/f1561660-f52c-494d-94b3-673921ad7e4a.mp3
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Duration seconds: 109

## Resource

This year’s homebuying market is sluggish, with high mortgage rates and stubborn prices keeping buyers on the sidelines—sales are up just under one percent, barely better than last year’s dismal numbers. Rates dipped briefly in February but surged again as global events rattled oil prices and inflation, pushing them back up to around 6.5%. While that’s down from last year’s average, it’s still too high for many, especially first-time buyers. One agent summed it up: the market “cries for a five-ish percent rate.” Even a small rate bump can add $500/month to a million-dollar mortgage, making deals harder to close. Yet, there’s still resilience—sales remain positive, inventory’s up, prices are rising slower than wages, and in some areas, prices have actually dropped. Opportunities exist: one young buyer snagged a home below asking price and even got closing cost credits. It’s tough, but not hopeless. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/65606feb57e0b2a3

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