[The U.S. second-hand housing contract signing volume index fell to a record low in September, and high interest rates suppressed home purchase demand] October 20th, the U.S. second-hand housing contract signing volume fell to a record low in September, and high mortgage loan interest rates continued to suppress home purchase demand. Data released by the National Association of Realtors (NAR) on Tuesday showed that the second-hand housing contract volume index fell sharply by 7.3% in September to 66, the lowest since records began in 2001. The decline was far greater than economists predicted. Mortgage rates have continued to rise since the outbreak of the Iran war and are now at their highest level in nearly three years. The slump in contract signings for second-hand homes shows that the real estate market is struggling to recover at a time when borrowing costs and home prices are high. The second-hand housing contract volume index, which has not been adjusted for seasonal factors, fell by nearly 13% year-on-year. Separate data released on Tuesday showed that housing starts slowed in September to one of the lowest levels since 2020.