Pending U.S. sales of existing homes fell in September

10/28/2013 | Bloomberg

Pending sales of existing U.S. homes marked a fourth month of decline in September, falling by the sharpest amount in three years. The 5.6% drop was attributed to higher mortgage lending rates. "This is a clear signal to the Fed as to what happens when you try to play with nascent housing recovery. The minutes indicated they were really concerned about it," said Yelena Shulyatyeva, a BNP Paribas economist.

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