World & BusinessThe mortgage-rate gap and America’s slow home sales
Bloomberg Opinion says the gap between rock-bottom rates on existing mortgages and higher rates on new ones is depressing US home sales—and its effects may take years to overcome.
TLDR
Bloomberg Opinion describes nearly four years of historically slow sales of new and existing US homes. The column points to the gap between low existing mortgage rates and higher new ones as one explanation. It says the average 30-year fixed mortgage rate had stayed above 6% for four years and crept past 7% in the week of September 24, 2026. Overcoming the rate gap’s effects may take years, it argues.
The mortgage-rate gap and America’s slow home sales
Bloomberg Opinion says the gap between rock-bottom rates on existing mortgages and higher rates on new ones is depressing US home sales—and its effects may take years to overcome.
TLDR
Bloomberg Opinion describes nearly four years of historically slow sales of new and existing US homes. The column points to the gap between low existing mortgage rates and higher new ones as one explanation. It says the average 30-year fixed mortgage rate had stayed above 6% for four years and crept past 7% in the week of September 24, 2026. Overcoming the rate gap’s effects may take years, it argues.