​Pending Home Sales Limp Off All-Time Record Lows In August – credittrader

Pending Home Sales Limp Off All-Time Record Lows In August Despite tumbling mortgage rates and surging mortgage applications, pending home sales in the US rose just 0.6% MoM in August (less than the 1.0% MoM expected jump back from the 5.5% plunge in July). Source: Bloomberg Pending home sales were down 4.3% YoY (and have not been positive on a YoY basis since Nov 2021). That lifted the pending home sales index just off its all-time record lows… Source: Bloomberg “A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August,”…  — Continue at ZeroHedge News : Read More