Home sales and construction will be driven down in the second half by a slowing economy and relatively high mortgage rates, according to the Mortgage Bankers Association.

"Right now, the economy is winning," said David Lereah, chief economist at the trade group. "That has really provided a boost to the housing market, despite the huge run-up in mortgage rates.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.