Business & Economy · 4 views
September data shows housing market in a deep freeze
Fast-rising mortgage rates in September took a harsh toll on the housing market, according to new monthly data released today.
Summary
Fast-rising mortgage rates in September took a harsh toll on the housing market, according to new monthly data released today. Pending home sales, a measure of signed contracts on existing homes, dropped 7.3% from August and were down 11.3% year-over-year, according to the National Association of Realtors.
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