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U.S. Home Sales Hit 12-Year Low as Rates Rise

By Drooid · Oct 13, 2026, 6:38 PM UTC · How we work

Summary

Story summary

U.S. home sales fell to a 12-year low after mortgage rates rose above 7%.
Mortgage rates climbed above 7% as global borrowing costs surged.
U.S. bond yields hit a 24-year high while European debt reached multi-decade levels.
The United Nations warned that liquidity crises could push millions in poorer nations into poverty.
Developing countries now allocate 9.5% of revenues to interest payments, the highest in 25 years.

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Story summary

U.S. home sales fell to a 12-year low after mortgage rates rose above 7%.
Mortgage rates climbed above 7% as global borrowing costs surged.
U.S. bond yields hit a 24-year high while European debt reached multi-decade levels.
The United Nations warned that liquidity crises could push millions in poorer nations into poverty.
Developing countries now allocate 9.5% of revenues to interest payments, the highest in 25 years.