Mortgage relief arrived for homebuyers heading into 2026 as mortgage rates fell to their lowest level of 2025, offering a modest but notable shift after a year of elevated borrowing costs.
New single-family home sales declined slightly in July, but still exceeded economist forecasts thanks to aggressive builder incentives and price reductions. The Commerce Department reported a seasonally adjusted annual rate of 652,000 units sold, down 0.6% from June and 8.2% year-over-year. Economists surveyed by Bloomberg had anticipated a slower pace of 630,000.