Home Sales Hit 16-Year Low as Mortgage Rates and Yields Weigh

Home sales sank to a 16-year low at an annual rate of 3.75 million units in October, down 8.8% from the same month last year, as the 30-year fixed-rate mortgage average held at 7.11% and the 10-year Treasury yield climbed 18% over the past 12 months to 4.86%.

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## Catalyst Analysis: Macro Housing Headwinds High borrowing costs continue to discourage buyers, pulling broader housing activity down to levels not seen in 16 years. Lenders rely on the 10-year Treasury yield—which rose 18% over the past year to 4.86%—as a baseline for mortgage pricing. This rate environment has softened retail performance across home improvement channels, where same-store sales rose at a muted 1.7% for Home Depot in Q2, while Lowe's posted a weaker 0.2% gain. Major retail equities in the space trade about 20% below their peak prices as investors weigh persistent macroeconomic friction.