Pending home sales fell 2.5% in July month-to-month and were 0.3% lower compared with July 2018, according to the National Association of Realtors. This came after two months of sales gains and may be a sign of just how sensitive today's borrowers are to even the smallest moves in mortgage rates.
Pending home sales fell 2.5% in July month-to-month and were 0.3% lower compared with July 2018, according to the National Association of Realtors.
This weaker-than-expected result came after two months of sales gains and may be a sign of just how sensitive today's borrowers are to even the smallest moves in mortgage rates. Home price gains had been moderating through much of the spring, but early indications are that the gains are strengthening again, likely thanks to lower mortgage rates.
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