Report
US existing-home sales rose in September, but higher mortgage rates dim the outlook
Reuters reports sales reached a seasonally adjusted annual rate of 3.99 million, but fell 2.2% year over year.
TLDR
In a Reuters report published by The Economic Times, the National Association of Realtors said US existing-home sales rose 1.5% in September to a seasonally adjusted annual rate of 3.99 million. Economists polled by Reuters had expected a decline to 3.95 million. Sales were still down 2.2% from a year earlier, while Freddie Mac data cited in the report put the 30-year fixed mortgage rate at 7.40% the previous week.
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