Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

4 Steps To Help You Decide Where To Live In Retirement

July 26, 2025

Just How Safe Is It to Charge Your Phone at the Airport?

July 26, 2025

The 10 Best-Paying Construction Jobs in America

July 26, 2025
Facebook Twitter Instagram
Trending
  • 4 Steps To Help You Decide Where To Live In Retirement
  • Just How Safe Is It to Charge Your Phone at the Airport?
  • The 10 Best-Paying Construction Jobs in America
  • 8 Hidden Dangers of Being “House Rich” and Cash Poor
  • 7 Signs You’re Building Wealth the Wrong Way
  • Stop Using ChatGPT Like an Amateur — Turn It Into a $100K Business Strategist
  • Why I Almost Always Choose Referrals When Hiring — And You Should Too
  • Mortgage rates inch lower this week
Saturday, July 26
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » US pending home sales fall to record low in January
Mortgage

US pending home sales fall to record low in January

News RoomBy News RoomFebruary 28, 20250 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Contracts to buy previously owned homes fell to a record low in January as prospective buyers were constrained by higher mortgage rates and house prices.

The National Association of Realtors (NAR) said on Thursday that its Pending Home Sales Index, which is based on signed contracts, declined by 4.6% last month to 70.6, an all-time low.

Economists polled by Reuters had forecast contracts, which become sales after a month or two, falling by 1.3% in January. Pending home sales were down 5.2% from a year ago.

“It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in the upcoming months,” said NAR chief economist Lawrence Yun. “However, it’s evident that elevated home prices and higher mortgages strained affordability.”

MORTGAGE RATES FALL FOR FIFTH WEEK IN A ROW, HOVER NEAR 7%

Mortgage rates ranged from 6.91% to 7.04% in January and NAR noted that in comparison to one year ago, the monthly mortgage payment on a $300,000 home increased by an extra $50 to $1,590. Mortgage rates have since declined slightly in February to about 6.85%.

Around the country, the number of signed contracts fell in the Midwest, South and West, but rose slightly in the Northeast.

“Even a slight reduction in mortgage rates will likely ignite buyer interest, given rising incomes, increased jobs and more inventory choices,” Yun added.

EXISTING HOME SALES FALL TO LOWEST LEVEL IN NEARLY 30 YEARS

Residential neighborhood in Crockett, California

Mortgage rates have remained elevated even as the Federal Reserve cut its benchmark interest rate by 100 basis points since September. 

The central bank has since paused the rate cuts in January while it weighs the impact of the Trump administration’s policies on inflation, as tariffs, tax cuts and mass deportations of illegal immigrants are viewed by economists as potentially spurring inflation.

Mortgage rates track the yield on the 10-year Treasury note, which has dropped in recent days amid softer economic data. However, concerns about inflation will likely limit the scope of the decline, while consumers’ inflation expectations have risen on fears that tariffs will increase the price of goods.

Reuters contributed to this report.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Mortgage rates inch lower this week

Mortgage July 25, 2025

Mortgage rates tick higher for first time in weeks

Mortgage July 11, 2025

Mortgage rates fall for fifth straight week, lowest since mid-April

Mortgage July 4, 2025

Mortgage rates fall for 4th straight week, lowest since early May

Mortgage June 28, 2025

US regulator directs Fannie Mae, Freddie Mac to consider cryptocurrency as an asset

Mortgage June 27, 2025

Home sellers face harsh new reality as listings hit record $698B value

Mortgage June 10, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

Just How Safe Is It to Charge Your Phone at the Airport?

July 26, 20250 Views

The 10 Best-Paying Construction Jobs in America

July 26, 20250 Views

8 Hidden Dangers of Being “House Rich” and Cash Poor

July 26, 20250 Views

7 Signs You’re Building Wealth the Wrong Way

July 26, 20250 Views
Don't Miss

Stop Using ChatGPT Like an Amateur — Turn It Into a $100K Business Strategist

By News RoomJuly 26, 2025

Entrepreneur Most entrepreneurs think they’re using AI the right way — asking ChatGPT for catchy…

Why I Almost Always Choose Referrals When Hiring — And You Should Too

July 26, 2025

Mortgage rates inch lower this week

July 25, 2025

Finances Are Not The Only Factor When Deciding Where To Retire

July 25, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

4 Steps To Help You Decide Where To Live In Retirement

July 26, 2025

Just How Safe Is It to Charge Your Phone at the Airport?

July 26, 2025

The 10 Best-Paying Construction Jobs in America

July 26, 2025
Most Popular

What Is ShopRunner?

March 1, 20251 Views

After This 29-Year-Old Got Hooked on ChatGPT, He Built a ‘Simple’ Side Hustle Around the Bot That Brings In $4,000 a Month Dhanvin Siriam wanted to build something that made revenue from ChatGPT, and once he did, he says, “It just caught on.”

December 19, 20231 Views

4 Steps To Help You Decide Where To Live In Retirement

July 26, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.