Economic News from Investopedia.com Dec.28/2023. https://www.investopedia.com/pending-home-sales-flat-despite-falling-mortgage-rate-8420594
- November’s pending home sales remained flat from the month prior as the index remained near all-time lows.
- The index was 5.2% lower than the same time last year, indicating that elevated mortgage rates are still affecting the U.S. housing market.
- The falling mortgage rate in November didn’t significantly draw more buyers into the housing market, but economists forecast improvements as rates continue to decline.