Forex News

US pending home sales for September -10.2% vs. -5.0% expected

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Pending home sales index for September 2022

  • Pending home sales for September 2022 tumbles -10.2% vs. -5.0% expected.
  • Prior month revised to -1.9% from -2.0% previously reported
  • The pending home sales index moved to 79.5 from 88.5 last month
  • Pending home sales are down -31.0% from September 2021
  • West -11.7%
  • Midwest -8.8%
  • South -8.1%
  • Northeast -16.2%

US mortgage rates are now above 7% which is more than double levels from a year ago. Monthly payments are near $1000 more for a median priced home vs. the beginning of the year.

The mortgage rate rate is the highest since April 2002.

Freddie Mac 30year mortgage rate at highest level since 2002

/Inflation


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