Pending home sales sink to 25-year low as buyers flee high mortgage rates
Contract signings to purchase homes fell in September to the lowest level on record, as buyers fled the housing market in the wake of the average 30-year mortgage rate crossing over 7%.
<p>Contract signings to purchase homes fell in September to the lowest level on record, as buyers fled the housing market in the wake of the average 30-year mortgage rate crossing over 7%.</p>