Slowing! US Pending Home Sales Declined -9.07% YoY In January As Mortgage Rates Rise (UMich Buying Conditions for Houses Falls To 71)

Well, at least markets recovered yesterday (Dow up 500 points this AM) from the Russian invasion of Ukraine. But now on to other news.

US pending home sales fell -9.07% YoY as mortgage interest rates began rising.

The University of Michigan Buying Conditions for housing fell to 71 as mortgage rates increase.