Mortgage rates hits highest since 2000 – Demand drops – Home sales slump – Inventory takes a hit

With so much happening all at once it can be easy to feel like we’re not in the middle of a storm; however, it is vital to face facts and address what’s happening in real estate and mortgage. On deck today we have real estate Inventory growth is slow, Home sales fall again in July, as supply drops to near quarter-century low, Mortgage rates hit their highest point since 2000, Weekly mortgage demand drops again, as interest rates match a 22-year high.