Tag Archives: Rising Mortgage Rates Show Impact

Rising mortgage rates are beginning to impact the housing market, as pending home sales declined in June after reaching the highest level in more than six years, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 0.4 percent to 110.9 in June. That’s down from 111.3 in May but still 10.9 percent higher than June 2012. Mortgage interest rates began to rise in May, taking some of the momentum out of contract activity in June, said NAR chief economist […]