"Tremendously Low" Rates Send Pending Home Sales Soaring To Record Highs

US Pending Home Sales soared 8.8% MoM (massively better than the 3.1% rise expected and 5.9% rise in July)...

Source: Bloomberg

This sent the YoY rise in pending home sales to +20.5% - the biggest annual gain since April 2010...

All of which sent pending home sales to a new record high...

Source: Bloomberg

“Tremendously low mortgage rates have again helped pending home sales climb,” said Lawrence Yun, NAR’s chief economist.