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  • Simpson Hires Consultant In Pursuit Of Sale

    simpson sheltonSimpson Lumber has announced the hiring of a financial adviser to explore the sale of some or all of the company. Workers for Simpson were informed of the action earlier in the month, and Tuesday a spokesperson for the company… Read More +

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  • 2 Killed, 1 Injured In Crash Near Longview

    seatbeltsTwo people were killed and one injured in a head-on collision Tuesday on Ocean Beach Highway west of Longview. The Washington State Patrol says the two victims were in a car that burned. The driver of the other vehicle was flown… Read More +

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  • Jays Rout Mariners 14-4

    mariners logo5Jose Bautista homered and reached base four times, J.A. Happ won for the first time in four starts and the Toronto Blue Jays dealt a blow to Seattle's wild card hopes, routing the Mariners 14-4 Monday night. Bautista went 3 for 3 with a walk and drove in two runs before getting the rest of the night off. His solo homer in the fifth against Mariners reliever Tom Wilhelmsen was his 35th.

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Pending Home Sales Drop 5.6 Percent in September

b_250_0_16777215_00_images_obgrabber_2013-10_9cd9d4c028.jpgFuse/Thinkstock (NEW YORK) -- The number of Americans who signed contracts to buy homes dropped sharply in September, reflecting higher mortgage rates and home prices that have made purchases more costly. The National Association of Realtors says its seasonally adjusted pending home sales index fell 5.6 percent to 101.6, the lowest level in nine months. The decline pushed the index below its year-ago level, the first time that's happened in nearly two and a half years.

There is generally a one- to two-month lag between a signed contract and a completed sale. The drop suggests final sales will decline in the coming months.

Mortgage rates reached a two-year high in August and remained elevated in September. But they have fallen in the past month, which could help boost contract signings in October.

Copyright 2013 ABC News Radio

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