Crashing Contracts

From 2/17 through 2/22, the percentage of pending home sales that fell out of contract declined from 13% to 11%, except for 3/20 and 4/20 when it exceeded 16%. From 3/22 through 9/22, as rates quickly rose, the failure rate jumped from 11% to over 16%. From 9/22 through 1/23, rates fell and the percentage dropped from 16% to almost 13%. Now with rates rising again, failures are approaching 16%.