U.S. pending home sales jump 1.6% in August on low mortgage rates

The Pending Home Sales Index rises to 107.3

The nation’s low interest rate environment spurred an increase in pending home sales in August, as the index rose 1.6%, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased to 107.3 in August, rising from July’s 105.6.

Contract signings compared to a year earlier climbed 2.5% from last month’s increase, NAR said. The index revealed… Click Here to Continue Reading