Pending Homes Sales Drop Despite Lower Mortgage Rates -- Market Talk

Dow Jones01-22 23:15

1015 ET - U.S. pending home sales fell 2.9% year-over-year during the four weeks ending Jan. 18, Redfin says, the smallest decline in over a month, as mortgage rates declined. New listings dipped 1.6% year-over-year, the smallest decline since November. Mortgage-purchase applications rose 5% week-over-week to their highest level in three years. The slight improvements in homebuying demand and home listings are largely the result of falling mortgage rates. The weekly average mortgage rate dropped to a three-year low of 6.06% last week after President Trump ordered $200 billion in mortgage bond purchases. Lower mortgage rates have brought the median U.S. monthly housing payment down to $2,441, a 6.3% decline from last year. (chris.wack@wsj.com)

(END) Dow Jones Newswires

January 22, 2026 10:15 ET (15:15 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment