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US Pending Home Sales Rebound Off Record Lows, Despite Rising Mortgage Rates
US Pending Home Sales Rebound Off Record Lows, Despite Rising Mortgage Rates
After rising in February, US Pending Home Sales were expected to continue to improve in March (+0.5% MoM) but - despite apparently rising mortgage rates - sales rose 1.5% MoM (even with February revised up to +2.5% MoM). This dragged pending home sales up to +1.8% YoY (to the highest level since Nov 2024)...
Source: Bloomberg
...extending its bounce off record lows...
Source: Bloomberg
“Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand,” NAR Chief Economist Lawrence...
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