Pending home sales pull back in June as rates rise

wochit business
July 29, 2013 AT 11:40 AM
Contracts to purchase previously owned U.S. homes fell in June, retreating from a more than six-year high touched the prior month, suggesting rising mortgage rates were starting to dampen home sales. The National Association of Realtors said its Pending Homes Sales Index, based on contracts signed last month, decreased 0.4 percent to 110.9.