U.S. Housing Recovery Loses A Step As Pending Home Sales Fall

wochit business
August 28, 2013 AT 7:19 AM
Contracts to purchase previously owned U.S. homes fell for the second straight month in July, a sign that rising mortgage rates are taking the steam out of America's housing market recovery. The National Association of Realtors said its Pending Homes Sales Index, based on contracts signed last month, decreased 1.3 percent to 109.5.