Pending Home Sales Plunge as Mortgage Rates Climb
Newly pending home sales experienced their largest decline since 2023 in September, directly linked to the rise in mortgage rates. This data provides insight into the potential future of the housing market if rates remain elevated.
One measure of newly pending home sales posted its steepest decline since 2023 after mortgage rates rose in September, new data showed. For investors, it offers a glimpse of what the housing market could look like if mortgage rates stay high and continue rising. "It tells us that we're headed to a pretty…"