Pending home sales fall to record low in January

To buy contracts Previously owned houses In January, he fell on a record low, as future buyers were constrained by mortgage ratings and at home prices.

On Thursday, the National Association of Realtors said that the expected sales index based on signed contracts decreased by 4.6% in the previous month.

Reuters, who asked by Reuters, predicted contracts that sell themselves or two later, fall 1.3% in January. Selling a home for now They decreased by 5.2% a year ago.

“It is unknown whether less buyers in the market have invested less than 25 years, and if so, expect more sales activity in the coming months,” said NAR’s chief economist Lawrence June. “However, it is obvious that raised home prices and higher loans are strictly available.”

Mortgage rates fall in a row in the fifth week of 7%

In January, the sale of the house is expected at a low level of all time, according to the National Association of Realtors. (Joe Rahed / Getty Images / Getty Images)

Mortgage prices In January, 6.91% to 7.04% hesitated, and NAR said that compared to a year ago, the monthly $ 300,000 household fee increased by an additional $ 50 to $ 1,590. Mortgage rates still decreased slightly in February, reaching about 6.85%.

The number of contracts signed around the country fell in Midwest, in the south and west, but slightly rising in the north-east.

“Even small reduction of mortgage rates will probably ignite the buyer’s interest, taking into account the income, raise more jobs and inventory elections,” the Yoon added.

The existing home sales decreases at the lowest level in about 30 years

The decline in sales in all regions of the country, except for the north-east. (David Paul Morris / Bloomberg Getty Images / Getty Images)

Mortgage rates remained raised even as Federal Reserve Cut its benchmark rate with 100 basic points from September.

In January, the Central Bank suspended interest rates, while it weighs the influence of the policy of Trump’s administration on inflation as tariffs, tax cuts and mass. Disemployment of illegal immigrants viewed by economists as potential jackets.

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The mortgage rate follows the yield on the 10-year treasury note, which has decreased milder economic data in recent days. However, Concerns about inflation Probably, the decline will last, while consumer’s inflation expectations have disappeared to fear that tariffs will increase the price of goods.

Reuters contributed to this report.