Morning Minute: Rising home prices and mortgage rates impacting pending sales

The National Association of REALTORS® (NAR) said today that the trend toward higher home prices and mortgage interest rates slowed pending home sales in September. The Pending Home Sales Index fell 5.6 percent compared to August. NAR Economist Lawrence Yun said affordability, federal government budget issues and consumer confidence are all playing a role. Read NAR’s news release.

In other headlines:

CNNMoney: Knock Before Entering a Foreclosed Home – CNN

BofA cuts 1,200 mortgage jobs, with more layoffs coming – Chicago Tribune

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