Pending Home Sales Decline Again Wednesday, August 28, 2:03 PM ET
This morning, the National Association of Realtors reported its Pending Home Sales Index declined 1.3% to a reading of 109.5. This marks the second straight month of declines for the index, possibly indicating that higher mortgage rates are slowing the housing recovery. The 30 year mortgage rate has climbed to 4.8% nationwide which is near the highs for 2013, but still historic lows overall. For the most part, investors disregarded the housing news as all eyes are still on the Middle East.
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