According to the latest data released by relevant US agencies, in September of this year, the number of existing housing contracts to be signed in the US hit a new low in more than 10 years. High mortgage interest rates are the main reason for the impact on the property market. According to data released on the 12th by the well-known US real estate brokerage company, after seasonal adjustments, in September of this year, the volume of existing homes to be signed in the US, that is, the volume of housing transactions that have been signed with the intention to buy a home but not yet completed, fell 4% month-on-month, the biggest monthly decline in more than three years, hitting a low since 2014. The cancellation rate of home purchase contracts reached 14.5%, a record high since 2020. According to the data, the average interest rate for 30-year fixed mortgages in the US rose to 7.4% on October 8, a sharp jump from 6.66% at the end of August, reaching the highest level in nearly three years, and more than 1 percentage point higher than 6.3% a year ago. According to the analysis, the market expects the Federal Reserve to tighten monetary policy again after raising interest rates in September to cope with inflationary pressure. At the same time, the scale of US government debt continues to expand, and companies borrow heavily for AI infrastructure construction. These factors together drive bond yields, which in turn are transmitted to the mortgage market.

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