Pending home sales fell 7.7% in April from the prior month, the National Association of Realtors said today. The pending home sales index—a forward-looking indicator based on contract signings—decreased to 72.3. Year over year, pending transactions were down 7.4%.
The 30-year fixed-rate mortgage ticks down
“Recent mortgage rate stability continues to benefit potential buyers this spring, as reflected in the uptick in purchase applications,” said Freddie Mac’s chief economist.