Stephen Bissaha

It was expected to be a strong home-buying season.

Average interest rates for a 30-year fixed mortgage dropped below 6% in February, the first time in three and a half years.

But the war against Iran increased the cost of borrowing, and this week the mortgage rate is about 6.5%.

Real estate business Zillow says sales in May were below where they were a year ago, nearly 3 percent, and housing recovery is back on pause.

Families choosing to stick with renting are seeing the benefits of an apartment construction boom.

The retail data company Yardi Matrix reports the average advertised rent was virtually flat compared to a year earlier.

Stephen Basaja, NPR News.

For workers that have a 401k, their total savings rate reached about 14.5%.

That is the contribution from both employees and employers, and a record rate according to Fidelity.

Mike Chamrell is vice president of thought leadership at Fidelity Investments.

Fidelity did report some signs of financial stress.

Two and a half percent of workers with retirement accounts dipped into their savings last quarter, a slight increase from a year earlier.

Stephen Basaja, NPR News.

They are beautifying my Marilyn Monroe hair at this moment.

It is a renter's market, according to Zillow's senior economist Cara Ng.

Okay, it might not feel that way.

Nationally, rent has risen 37% since the pandemic.

But over the last year, it has gone up slower than inflation.

She says that's due to an apartment construction boom.

Ng says renters renewing their lease should also negotiate a deal like a rent-free month because they have the negotiation power.