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.

Full Story:

Related Summaries