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Market
US Mortgage Rates Drop Below 6% by End of December 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Freddie Mac's Primary Mortgage Market Survey
Story
US Pending Home Sales Surge 7.4% in September to Six-Month High
Oct 30, 2024, 02:10 PM
Pending home sales in the U.S. surged by 7.4% in September, marking the largest increase in over four years. This jump is attributed to a significant drop in mortgage rates and more selection on the market, which drew more buyers. The National Association of REALTORS® reported that all four major regions experienced month-over-month gains in transactions. Year-over-year, pending home sales increased by 2.6%. The monthly increase far exceeded expectations, with estimates at 1.9% and prior figures at 0.6%. This rise brought pending home sales to their highest level since March, reaching a six-month high.
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