The Sudden Large Gains in Mortgage Rates Have Reduced the Pool of Eligible Homebuyers’: Pending Home Sales Fall Amid Rising Mortgage Rates

MarketWatch, May 1, 2022–Jacob Passy
Pending home sales dropped 1.2% in March, according to the monthly index released by the National Association of Realtors. The index measures transactions where the contract has been signed for an existing-home sale, but the sale has not yet closed. This makes the index a strong indicator for the direction of existing-home sales in subsequent months.
https://www.msn.com/en-us/money/realestate/the-sudden-large-gains-in-mortgage-rates-have-reduced-the-pool-of-eligible-homebuyers-pending-home-sales-fall-amid-rising-mortgage-rates/ar-AAWEoJ1