Pending home sales, which are a measure of signed contracts to buy existing homes, fell an unexpected 2.3% in September compared with August, according to the National Association of Realtors. Analysts were predicting a slight monthly gain. Sales were 8% lower compared with September 2020. Pending sales are a forward-looking indicator of closed sales in one to two months. Sales may have dropped due to higher mortgage rates. The average rate on 30-year fixed-rate mortgages fell below 3% in July and stayed there until the first week of September, according to Mortgage News Daily. Then it began rising and crossed over ... (full story)