US Pending Home Sales Drop 2.6 Percent In August

Contracts to buy previously owned homes fell more than expected in August to their lowest level in about 1-1/2 years as the housing market continues to be sapped by a shortage of inventory that is also pushing up home prices.

Hurricane Irma Losses Could Exceed $65 Billion

Preliminary loss estimates for Hurricane Irma is estimated to be between $42.5 billion and $65 billion (excluding uninsured commercial losses), according to a report released today from CoreLogic, a global property information company.