US pending home sales for April -7.7% versus -0.6% expected ...Middle East

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US pending home sales for April -7.7% versus -0.6% expected
source : forex live ( Middle East ) () 14
Prior month +3.4%Pending home sales month on month change -7.7% versus -0.6% expectedPending home sales index 72.3 vs 78.2 last monthPending home sales -7.4% y/y vs +0.1% y/y priorThis is the largest drop in three years and shows that higher rates are biting. Rates rose from 6.9% at the end of March and rose to 7.7% by the end of the month. All regions show sharp declines, led by the south and midwest. This article was written by Adam Button at www.forexlive.com.

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