Pending home sales in October reached their lowest point in over two decades, falling to levels not seen since 2001. The sharp decline can be attributed to a significant increase in mortgage rates, which reached a staggering 8%. Despite this overall slump, the Northeast region managed to buck the trend and saw a modest increase in monthly home transactions.

Key Points:
– Pending home sales in October plummeted to their lowest level since 2001.
– The decline can be attributed to mortgage rates soaring to 8%.
– The Northeast region experienced an unexpected increase in monthly home transactions amidst the overall decline.

You can read this full article at: required)

Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.