Home sales increased by 1.5% in September to a rate of 4.06 million, the highest since February. Year over year, sales rose by 4.1% due to lower mortgage rates and higher inventory. Inventory climbed by 14% from the previous year. Sales of homes over $1 million rose by 20%, while first-time homebuyers struggled to enter the market, making up only 30% of sales. Lower mortgage rates may help boost future homebuying activity, despite a government shutdown causing friction in the market.

For more information on historical mortgage rates and first-time homebuying, visit Yahoo Finance.

Read more at Yahoo Finance: Existing home sales jump in September, helped by lower rates and more inventory