With September drop in mortgage rates, buyers step up but...
With the average 30 yr mortgage rate in September falling all the way down to about 6.15% (now back to 6.73%), the lowest in a year and a half, home buyers stepped up according to the National Association of Realtors in today’s pending home sales figure which rose 7.4% m/o/m, well above the estimate of 1.9%. Sales were up 2.2% y/o/y.
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