Pending Home Resale Index Rebounds 2.2%

Contracts to purchase previously owned homes rebounded in February as buyers rushed to beat higher interest rates, the National Assn. of Realtors said.

The index of signed purchase agreements rose 2.2% in the month to 123.2, approaching a record set in October after falling 2.1% in January. That compares with a 9.4% rise in February contracts to buy new houses, which the Commerce Department reported last month.