Redfin Reports Pending Home Sales Rise 2% as Mortgage Rates Sit at Lowest Level in 10 Months

SEATTLE--(BUSINESS WIRE)--Falling mortgage rates have pushed the median U.S. monthly mortgage payment down to $2,616, its lowest level since the start of the year, according to a new report from Redfin, the real estate brokerage powered by Rocket. The weekly average mortgage rate is sitting at 6.58%, its lowest level in 10 months. Lower housing costs are bringing some house hunters off the sidelines. Pending home sales rose 1.6% year over year during the four weeks ending August 27. That marks