Investors bruised by the stock market are crawling back to savings bonds — here’s what this once humble, now hot asset can do for you

Reuters

U.S. home sales slide as prices break above $400,000 for first time

U.S. existing home sales tumbled to a two-year low in May as prices jumped to a record high – topping the $400,000 mark for the first time – and mortgage rates increased further, pushing out entry-level buyers from the market. “Existing home sales should continue to slow over the course of the year as mortgage rates move higher,” said David Berson, chief economist at Nationwide in Columbus, Ohio. Existing home sales fell 3.4% to a seasonally adjusted annual rate of 5.41 million units last month, the lowest level since June 2020 when sales were rebounding from the COVID-19 lockdown slump.