Homebuying and Selling Activity Show Signs of Life Amid Lower Mortgage Rates

The weekly average mortgage rate fell to a 3-year low, nudging some house hunters and sellers off the sidelines. 

U.S. pending home sales fell 2.9% year over year during the four weeks ending January 18, the smallest decline in over a month, as mortgage rates declined. Mortgage-purchase applications rose 5% week over week to their highest level in three years. 

New listings followed a…