Business

Pending Home Sales Reach Record Low Due to High Mortgage Rates

Updated 2026-10-20 14:20 UTC 1 source Negative

Pending home sales in the U.S. have sunk to a 25-year low, as buyers flee the housing market due to soaring mortgage rates exceeding 7%. The trend reflects broader economic challenges facing homeowners.

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MarketWatch

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%.

2026-10-20 14:06 UTC