U.S. New Home Sales Decline as Mortgage Concerns Rise

Google searches for 'help with mortgage' have reached record highs, a level not seen since the 2008 financial crisis. According to NS3.AI, this surge in search interest coincides with a significant drop in U.S. new home sales, which fell by 17.6% in January to 587,000 units. Additionally, mortgage rates have increased by 33 basis points over two weeks, reaching 6.43%. These developments highlight growing concerns in the housing market as potential buyers face higher borrowing costs and economic uncertainty.