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Tuesday, October 20, 2026Updated 19:36 UTC

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Pending home sales sink to 25-year low as buyers flee high mortgage rates

Source: MarketWatch · Oct 20, 2026 15:01 UTC

Aerial view of suburban homes and tree-lined streets near Pittsburgh — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Contract signings to purchase homes fell in September to the lowest level on record, as buyers fled the housing market in the wake of the average 30-year mortgage rate crossing over 7%.

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