US Home Prices Are Rising At Their Fastest Pace In A Year
ZeroHedge·- US home prices in the 20 largest cities accelerated by 0.24% month-over-month in June, pushing the annual increase to 2.1%. - Chicago led with a 6.9% annual increase, while Seattle recorded the largest decline at 2.0%. - High financing costs and a 30-year mortgage rate near 6.5% continue to pressure the housing market and deter prospective buyers.U.S. Pending Home Sales Unexpectedly Tumble To Six-Month Low
rttnews·- The National Association of Realtors reported that pending home sales in the United States unexpectedly fell by 2.3% in July to 71.2, reaching a six-month low. - This decline follows a downwardly revised 4.8% drop in June to 72.9. - Economists had previously anticipated a rebound with a 1.4% increase instead of the further contraction.Investors favor ‘anything but bonds’ as Treasuries struggle - BofAf
MSN·- Investors increasingly favored assets outside bonds due to elevated Treasury yields weighing on long-duration government debt. - This trend reinforced Bank of America’s "Anything But Bonds" investment thesis. - The strategy remained a core asset-allocation conviction for the 2020s alongside other global allocations.