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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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.