Claims extracted
23
sentences that state something as happening or true
Uncertain
4%
1 of 23 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
60/100
Al Jazeera's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
4
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
Sales of previously owned homes in the US have hit the lowest level since 2010 as mortgage rates hover above 7 percent.
asserted
rates → own → percent
The National Association of Realtors (NAR) said on Thursday that home sales dropped 5.5 percent in October to a seasonally adjusted annual rate of 3.75 million units.
asserted
sales → say → units
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asserted
cost → launch → France
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asserted
bill → climb → debt
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“Home buying is difficult when mortgage rates have climbed to their highest levels since 2000, aside from a single month in 2023.
asserted
rates → 4rise → 2023
As a result, home sales fell to their lowest level since August 2010,” said NAR Chief Economist Lawrence Yun.
asserted
Yun → fall → August
He said, “It is just a tough market for buyers and sellers.”
“Sales decreased by 8.8 percent year-over-year,” the NAR report found.
asserted
report → say → year
Month-over-month sales declined in the Midwest, South and West and held steady in the Northeast.
asserted
sales → decline → Northeast
Year-over-year sales declined in all four regions.”
asserted
sales → decline → regions
The home sales used in the report are counted at the closing of a contract and are a look at previously occupied ones.
asserted
sales → use → ones
October’s sales likely reflected contracts signed in August and September.
asserted
sales → reflect → August
“Despite fewer transactions in October, the 88 million homeowners across the country are largely in a comfortable financial position due to sizable housing wealth accumulation,” said the report.
asserted
report → say → accumulation
First-time buyers accounted for just 29 percent of home purchases last month, down from 31 percent in September and 32 percent in October last year, NAR said.
asserted
NAR → account → October
First-time buyers have historically made up closer to 40 percent of home sales.
asserted
buyers → make → sales
The US housing market has been in a slump since 2022, when mortgage rates increased from pandemic-era lows.
asserted
rates → increase → lows
Sales of previously occupied US homes were essentially flat last year, stuck at a 30-year low.
asserted
Sales → occupy → low
Yun expects home sales this year will likely end up lower than in 2025.
asserted
sales → expect → 2025
The average 30-year fixed-rate mortgage was 7.33 percent in October, according to the Federal Home Loan Mortgage Corporation, more commonly known as Freddie Mac, up from 6.86 percent in September and 6.25 percent one year ago.
uncertain
mortgage → fix → September
The rate, however, averaged 7.18 percent last week, down from 7.24 percent in the previous week.
asserted
rate → average → week
Rates on home loans are influenced by inflation, Federal Reserve policy and bond-market investors’ expectations for the economy, among other factors.
asserted
Rates → influence → factors
They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
asserted
lenders → follow → loans
Until the past few weeks, mortgage rates had been on the rise since late February, when the US war with Iran began, pushing up the price of oil and driving inflation higher.
asserted
war → begin → inflation
The run-up in rates also reflected heightened bond market volatility, which led to rising yields on US Treasuries.
asserted
which → reflect → Treasuries
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