US existing home sales 3.75 million... lowest since 2010

US existing-home sales fell to a seasonally adjusted annual rate of 3.75 million in October, the lowest since 2010 and down 8.8% from a year earlier, according to National Association of Realtors data. The decline was driven by mortgage rates that climbed as high as 7.40% on 30-year fixed loans during October, the highest level since 2023, as inflation and rising Treasury yields pushed borrowing costs up. The weak pace matters because housing is a rate-sensitive sector, and the slump signals that elevated financing costs continue to freeze both buyers and sellers. Watch next for whether mortgage rates ease from their October peak and whether the Federal Reserve's rate path, tied to incoming inflation data, loosens affordability enough to revive transaction volumes.