Pending home sales fall in U.S. as interest rates rise

08/29/2013 | Reuters · MarketWatch

The Pending Home Sales Index of the National Association of Realtors, which is calculated from contracts signed in July, fell 1.3% to 109.5. Mortgage interest rates have been climbing since May. "Higher mortgage interest rates and rising home prices are impacting monthly contract activity in the high-cost regions of the Northeast and the West,” said Lawrence Yun, the association's chief economist.

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