US pending home sales for September +7.4% versus 1.0% estimate

• Prior month +0.6%
• Pending home sales 7.4% versus 1.0% expected
• Home sales index 75.8 versus 70.6 last month
• Sales up 2.6% year on year

Regionally:

• Northeast +6.5%
• West +9.8%
• Midwest 7.1%
• sound 6.7%

Of note is that mortgage rates have soared since the lows in September which were near 6.1%. The 30 year fixed mortgage is now up at 7.08%. This data is for the month of September so there might be a fall off next month.

This article was written by Greg Michalowski at www.forexlive.com.