1015 ET - U.S. pending home sales fell 2.9% year-over-year during the four weeks ending Jan. 18, Redfin says, the smallest decline in over a month, as mortgage rates declined. New listings dipped 1.6% year-over-year, the smallest decline since November. Mortgage-purchase applications rose 5% week-over-week to their highest level in three years. The slight improvements in homebuying demand and home listings are largely the result of falling mortgage rates. The weekly average mortgage rate dropped to a three-year low of 6.06% last week after President Trump ordered $200 billion in mortgage bond purchases. Lower mortgage rates have brought the median U.S. monthly housing payment down to $2,441, a 6.3% decline from last year. (chris.wack@wsj.com)

(END) Dow Jones Newswires

January 22, 2026 10:15 ET (15:15 GMT)

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