U.S. existing home sales fell 2% in August from July to a seasonally adjusted annual rate of 3.98 million units, the weakest reading since June 2025, as higher mortgage rates constrained affordability. Sales were down 1.2% from a year earlier, while inventory rose 3.2% to 1.62 million homes, providing 4.9 months of supply. The median existing-home price increased 1.6% year over year to a record $429,100 for August. The 10-year Treasury yield reached 4.9% on Thursday after the Treasury Department said it planned to buy back up to $6 billion in longer-term debt, while the benchmark 30-year fixed mortgage rate reached 6.76% intraday this week. Lawrence Yun, the National Association of Realtors' chief economist, said higher borrowing costs had reduced near-term buying activity, though sales through August remained 1.6% ahead of the same period in 2025, supported by wage growth and job creation.