According to data released by the United States government, new home sales dropped in July by 13.4%. Housing market experts suggest that the recent fall in home sales could be due to the rise in mortgage rates. Although mortgage rates are expected to continue to increase, many economists say that it is not expected to affect the housing market in a negative way. Senior economist at the National Association of Home Builders, Robert Denk said, “there’s still plenty of juice left in the housing recovery.” More here
