Sales of new U.S. homes hit a 5-month low in August 2023, as sky-high mortgage rates continue to strain prospective homebuyers' ability to afford a dwelling. (AP Photo/Matt Rourke, File) LOS ANGELES  — Sales of new U.S. homes hit a 5-month low last month as sky-high mortgage rates continue to strain prospective homebuyers' ability to afford a dwelling. The pace slowed 8.7 percent in August from the previous month to a seasonally adjusted annual rate of 675,000 properties, the Department of Commerce reported this week.

https://business.inquirer.net/423628/sky-high-mortgage-rates-leave-homes-unaffordable-for-more-buyers-in-us

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