SEATTLE — U.S. pending home sales are down to their lowest level since spring 2014—with the exception of April 2020, when the onset of the pandemic ground the housing market to a halt. This is according to a new report from Redfin.  Pending home sales declined 4% from a month earlier in September on a seasonally adjusted basis—the biggest monthly drop in more than three years. This is a real-time indicator of what’s happening in the housing market; fewer homes went under contract in September largely because mortgage rates rose steadily, surpassing 7% by the end of the month. …For the first time in three years, pending home sales declined in all 50 of the most populous U.S. metros. The last time that happened was September 2023, which was also the last time mortgage rates surpassed 7% for a sustained period.