Monday
Oct132008
CNN Reports Pending Home sales Show Suprise Rise
Monday, October 13, 2008 at 03:46PM
The National Association of Realtors says pending home sales increased 7.4% from July to August; highest since June 2007.
October 8, 2008: 10:40 AM ET
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Current Mortgage Rates |
| Type | Overnight avgs |
|---|---|
 | |
| 30 yr fixed mtg | 6.16% |
| 15 yr fixed mtg | 5.90% |
| 30 yr fixed jumbo mtg | 7.52% |
| 5/1 ARM | 5.93% |
| 5/1 jumbo ARM | 6.17% |
| |
WASHINGTON (AP) -- The National Association of Realtors says pending home rose 7.4% from July to August, an unexpected piece of positive news for the battered U.S. housing market.
The group said Wednesday its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July reading of 87. The reading was the highest since June 2007.
Wall Street economists surveyed by Thomson/IFR had predicted the index would fall to 84.9.
The index, which sunk to a record low of 83 in March, stood at 85.8 in August 2007. 
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