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.

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Reuters

United Kingdom

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

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…

Media Bias/Fact Check

Times of India

India

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

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.

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All Sides

The Woodbridge Company

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

Associated Press News

Independent Media

United States

Average long-term US mortgage rate falls to 7.22%

Warner Bros. Discovery

Atlanta

Fulton County

Georgia

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

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

CNBC

Roberts family

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

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 […]

Winnipeg Free Press

Winnipeg

Manitoba

Canada

A for sale sign stands outside a single-family residence on the market on Thursday, Nov. 23, 2023, in Denver.             (David Zalubowski/AP)   Pending home sales drop to lowest level on record, in bad sign for housing market             Zachary Halaschak     November 30, 02:56 PM November 30, 02:56 PM             Video Embed  Contract signings for existing homes have fallen to a record low, in another sign of the beating the housing market is…

Washington Examiner

Philip Anschutz

Washington

District of Columbia

Pending home sales drop to lowest level on record, in bad sign for housing market

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 market.

Financial Post

Leon Cooperman

Allianz

A gauge of pending sales of existing US homes fell to its lowest level on record in October, illustrating a resale market battered by high borrowing costs and prices.

Bloomberg

Michael Bloomberg

The Vanguard Group

Howard Buffett

BlackRock

US Pending Home Sales Index Drops to Lowest Level on Record

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 brought the average rate on a 30-year mortgage down to 7.22% from 7.29% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.49%.The average rate on a 30-year mortgage is now at the lowest level it’s been in 10 weeks, when…

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

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