Rates Rise to Highest Level Since Mid-February

Rates on 30-year mortgages inched up to 6.86% from 6.81% last week, while rates on 15-year fixed-rate mortgages rose to 6.01% from 5.92%.

Fla.’s April Housing: Inventory Up, Prices Ease

Florida Realtors Chief Economist cites still high mortgage rates as a factor, saying if they fall to 6%, it will help affordability and spur more buyer competition.

National Existing-Home Sales Dip in April

Existing-home sales slid 0.5% in April to a seasonally adjusted annual rate of 4.00 million. Sales retreated 2.0% from one year ago.

House Passes Tax Reform Package, Key Wins for RE

The bill retains the current tax rates while including NAR-supported provisions, including a qualified business income deduction increase and the SALT deduction.