Rising Mortgage Rates Slow Housing Market as Competition Eases

Competition in the housing market is easing faster than normal this fall, opening up inventory and slowing down price growth.

The "rate lock" that kept potential sellers from listing homes is fading as high mortgage rates persist.

Housing supply ticked up in September with total listings rising 0.2% from August.

Nearly a fourth of listings saw a price cut in September, higher than previous years.

Mortgage rates near 8% are pushing monthly payments too high for many buyers, fading competition.