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Lower Mortgage Rates Aren’t Boosting U.S. Housing

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“Federal Reserve Chairman Jerome Powell is facing a housing conundrum. The market is in the midst of a 15-month slump, with home price gains and sales having slowed dramatically and permits to build new dwellings slumping by 6.6% to the lowest level in more than two years. This despite a big drop in market interest rates thanks to the Fed’s dovish pivot earlier this year”

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