Contracts to buy previously owned U.S. homes fell in November to their lowest level in nearly a year, a sign rising interest rates could be weighing on the housing market, the National Association of Realtors said on Wednesday.
The group said its pending home sales index, based on contracts signed in November, dropped 2.5 percent to 107.3.
"The brisk upswing in mortgage rates and not enough inventory dispirited some would-be buyers," the NAR said in a statement accompanying the figures.
Consider that above with the following interest rate information:
Since the election, 15 and 30-year mortgage rates have increased over 50 basis points. That means that means the XHBs may be a possible short: