Pending home sales fell across the largest American metropolitan areas as elevated mortgage rates pushed monthly housing payments near record levels.
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Fewer homes moved under contract in September as rising mortgage rates added pressure to buyers across all major U.S. regions.
High mortgage payments, property prices, insurance, and maintenance expenses are influencing how households evaluate the decision to buy a home.
U.S. home prices rose 2.6% annually in July as elevated mortgage rates continued to shape affordability and buyer demand nationwide.
