Home purchase cancellations are above 15% for the second straight month. It’s important to know the financial repercussions

Econ & Housing, The Daily Buzz

  Steve Pfost | Newsday | Getty Images Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in August, according to a new report from Redfin. That’s equal to 15.2% of home contracts initiated during…

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