From TokenPost · · 40s
U.S. Housing Contracts Drop as Completed Sales Rise
U.S. home purchase contracts fell 7.3% in September while completed sales rose, signaling weaker housing demand for Fed.
In brief
U.S. home purchase contracts fell 7.3% in September while completed sales rose, signaling weaker housing demand for Fed. U.S. home purchase contracts fell 7.3% in September as completed sales rose, giving the Fed a weaker reading on housing demand. Originally reported by TokenPost.
U.S. Housing Contracts Fall
U.S. home purchase contracts fell 7.3% in September from August, with a 11.3% year-over-year decline.
Completed Sales Rise
Completed existing-home sales rose 1.5% monthly in September despite falling contracts.
Mortgage Rates and Fed Focus
Average 30-year mortgage rate rose to 7.40% as Fed prepares for next meeting on Oct 27-28.
The essence
U.S. home purchase contracts fell 7.3% in September as completed sales rose, giving the Fed a weaker reading on housing demand.
