US Existing-Home Sales Rise for First Time in Four Months

• US September existing home sales rose to 3.99 million (annualized), slightly above the 3.95 million estimate.
• Mortgage rates are rising, with 30-year fixed rates at 7.48%, potentially reaching 8%, which is slowing home sales.
• Upcoming CPI data is expected to show a 0.4% rise in headline inflation (driven by energy) and a 0.2% rise in core inflation, likely not prompting an October Fed rate hike.

US existing home sales rose slightly in September to an annualized rate of 3.99 million, exceeding estimates. However, the housing market faces significant headwinds from rapidly rising mortgage rates, currently at 7.48% and potentially reaching 8%. While upcoming CPI data is expected to show a rise in headline inflation due to energy, core inflation forecasts suggest it may not trigger an October Fed rate hike, though rates are still expected to climb.