Published 8 months ago

US pending home sales fell to their lowest level in 20 years last month

Pending home sales in October dropped 1.5%, hitting the lowest level since 2001, due to high mortgage rates and low supply of homes for sale.
Sales fell in all regions compared to a year ago, with the West and South experiencing the steepest decline.
Despite declining mortgage rates, home prices continue to rise, with the median sales price increasing by 3.4% in October.

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Times of India

The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September

The average long-term US mortgage rate fell for the fifth week in a row, benefiting prospective homebuyers in an unaffordable housing market. According to Freddie Mac, the average rate on a 30-year mortgage decreased to 7.22%, the lowest in 10 weeks. The decline in rates is encouraging for potential buyers, with purchase application activity rising. However, rates remain significantly higher than two years ago, limiting affordability for many Am…

8 months ago·India

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Reuters

Contracts to buy existing homes decline to a record-low in October

Pending home sales fell in October to the lowest since at least 2001, indicating the month's high mortgage rates and weakened affordability kept potential buyers on the sidelines, according to a report released on Thursday.

8 months ago·United Kingdom

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Associated Press News

Average long-term US mortgage rate falls to 7.22%

The average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing market. The latest decline

8 months ago·United States

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CNN

US pending home sales fell to their lowest level in 20 years last month

US pending home sales fell to their lowest level in 20 years in October as mortgage rates surged to their highest levels of the year, according to a report released Thursday.

8 months ago·Atlanta, United States

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CNBC

Pending home sales drop to a record low, even worse than during the financial crisis

Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September.

8 months ago·United States

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Winnipeg Free Press

The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September

LOS ANGELES (AP) — The average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing […]

8 months ago·Winnipeg, Canada

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