# US house sales drop to 12 year lows as borrowing costs spike — retained record

> Retained news record from news:semafor.

Canonical: https://highsignal.app/data/records/d5554fa3135e8420

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source: [news](https://highsignal.app/data/news) (news:semafor)  published 2026-10-13 11:40 ingested 2026-10-14 03:04

[original source ↗](https://www.semafor.com/article/10/13/2026/us-house-sales-drop-to-12-year-lows-as-borrowing-costs-spike)

## retained text



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US home sales plunged to a 12-year low after mortgage rates topped 7%, driven by soaring global borrowing costs. Increasing energy prices and higher-for-longer inflation expectations have sent debt costs to recent records, with US bond yields touching a 24-year high and European debt climbing to levels not seen in decades.
Higher borrowing costs are impacting poorer nations, as well: The UN warned several countries were facing a “liquidity crisis” that could push millions into poverty, with developing countries now on average spending 9.5% of government revenues on interest payments, the highest share in a quarter century. “The global economy could soon test the limits of resilience,” the IMF’s chief economist said.
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document fetched 2026-10-14 03:04 · canonical https://semafor.com/article/10/13/2026/us-house-sales-drop-to-12-year-lows-as-borrowing-costs-spike