Revelation 6:3-4 NCV When the Lamb opened the second seal, I heard the second living creature say, "Come!" Then another horse came out, a red one. Its rider was given power to take away peace (prosperity, rest) from the earth and to make people kill each other (butcher, slaughter, to maim violently, in streets), and he was given a big sword (assassins sword, terrorist, loud, mighty, sore afraid).
Sales of existing homes fell 1% in June across the country according to the National Association of Realtors.
Sales fell to an annual rate of 5.08 million in June. That figure is lower than the revised version for May which was lowered to 5.14 million.
Realtors believe the sudden rise in mortgage rates is having a stronger impact than first believed in the current housing market. The average 30 year mortgage rose almost .4% during June to 4.07%, the highest level since October 2011.
The dollar weakened in international trading upon the news of the downturn.
Despite the downturn, sales remain near a three year high. The sale of repossessed homes or those with a defaulted mortgage fell to just 15% in June showing that buyers are looking for newer homes.
