Sign in to comment!

Menu
Home

Economy

Measure of signed contracts to buy US homes rises to 3-year high in March

The number of Americans who signed contracts to buy homes rose in March to the highest level in three years.

The National Association of Realtors says that its seasonally adjusted index for pending home sales rose 1.5 percent to 105.7. That's the highest since April 2010, when a homebuyer's tax credit boosted sales. It's also above February's reading of 104.1.

Signed contracts are 7 percent higher than they were a year earlier. There is generally a one- to two-month lag between a signed contract and a completed sale.

Still, sales are being held back by limited supply. Sales of previously occupied homes dipped in March to a seasonally adjusted annual rate of 4.92 million, down from 4.95 million in February.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.95% dw 3.98%  
15 Y Fixed Graph 3.08% up 3.04%  
30 Y Fixed Jumbo Graph 4.28% up 4.22%  
5/1 ARM Graph 3.43% up 3.30%  
5/1 Jumbo ARM Graph 3.17% up 3.13%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.33% up 4.32%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% -- 5.05%  
$50K Loan Graph 4.48% -- 4.48%  
$75K Loan Graph 4.50% -- 4.50%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.96% up 2.94%  
36 M Used Graph 3.50% up 3.48%  
48 M New Graph 3.24% up 3.22%  
48 M Used Graph 3.03% dw 3.04%  
60 M New Graph 3.25% up 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.72% -- 0.71%  
5 yr Graph 1.52% up 1.50%