Volume 13 · November 4th, 2026
The latest housing numbers are in, and they are the weakest on record. Here’s the short version of what happened and what to do about it.
Market Update — November 2026: Pending Home Sales Hit a Record Low
The National Association of Realtors reported that its pending home sales index fell 7.3% in September to 66.0 — the lowest reading since the series began in 2001. Economists had expected a drop of only 0.5%. Contracts declined in all four regions and are down 11.3% from a year ago.
The cause is straightforward: borrowing costs. The 30-year fixed rate averaged 7.40% last week, the highest in nearly three years, according to Freddie Mac. Rates have been following Treasury yields higher as the war with Iran keeps inflation pressure alive, and NAR’s chief economist pointed to fast-rising mortgage rates as the reason buyers pulled back.
- 66.0 — Pending home sales index, lowest since 2001 (NAR, Sept 2026)
- −11.3% — Pending sales vs. a year ago (NAR, Sept 2026)
- 7.40% — 30-yr fixed average, highest in nearly 3 years (Freddie Mac, mid-Oct 2026)
What This Means For You
Fewer buyers are signing contracts, and the ones who are have more room to negotiate. Whether you’re buying, selling, or sitting on a mortgage you’re thinking about changing, the right move depends on your numbers, not the headline.
Thinking About Making a Move? Let’s Talk First.
Buying? We’ll show you what you qualify for and the real monthly payment at today’s rates.
Selling? We’ll help you understand what buyers can afford so you can price and plan with confidence.
Refinancing? We’ll run the numbers and tell you honestly whether it makes sense or whether you should leave your current loan alone.
No cost, no pressure. Contact us or reach your loan advisor directly.
Stay curious. Stay informed. Stay funded.
The Investor Property Loan Team · Your Mortgage Lab
(800) 440-8350 · InvestorPropertyLoan.com