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US pending home sales tick lower in July as canceled contracts spike
Signed contracts to buy existing homes, known as pending sales, were weaker in July compared with June, and were canceled at the highest rate since at least 2017. The monthly pending home sales index from the National Association of Realtors dropped 0.4% in July from June, but was still 0.7% higher from July of last year. Mortgage rates in July were moving slightly higher, which could account for some of the drop. The average rate on the popular 30-year fixed mortgage started July at 6.67% and then moved to 6.85% by the middle of the month and ended July at 6.75%, according to Mortgage News Daily. The rate fell more ... (full story)
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- Aug 28, 2025 8:00pm Posted byFundamental Analysis4,574
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