For the fifth month in a row, the number of pending sales of previously-owned homes in the U.S. stumbled in October, as borrowing costs climb.
Contracts fell 0.6 percent for the month, according to data from the National Association of Realtors. The drop was not as steep as in September, when pending sales fell 4.6 percent. The pending sales index also reached its lowest point of the year in October – 102.1 on a seasonally adjusted basis. [more]