US Existing Home Sales Rise 0.2% April

US existing home sales increased 0.2% in April to a seasonally adjusted annual rate of 4.02 million units, below the 4.05 million forecast.
The 30‑year fixed mortgage rate rose from 5.98% in late February to 6.38% by end‑March, reaching 6.46% in early April.
Mortgage rate increases were driven by rising inflation linked to the U.S.–Israel war with Iran, keeping borrowing costs elevated.
Sales figures are recorded at contract closing and reflect agreements signed during February and March.