THU AM NEWS : SEPTEMBER HOME SALES DECLINE AMID RISING MORTGAGE RATES ; DOJ PART OF COALITION SUING TO BLOCK MANUFACTURER ACQUISITION

What happened: Wisconsin home sales fell 2.4% year over year in September as the average 30-year fixed mortgage rate rose to 6.86%. Separately, the Wisconsin DOJ joined the FTC and 11 other states in suing to block Playpower's acquisition of BCI Burke. Key numbers: September sales totaled 6,284 versus 6,439 a year Why it matters: WRA's Tom Larson said continued rate increases would hurt buyer affordability and keep potential sellers from listing. The lawsuit argues the merger would drive up prices and decrease innovation and quality for customers such as schools and parks departments.

Wisconsin home sales fell 2.4% year over year in September as the average 30-year fixed mortgage rate rose to 6.86%. Separately, the Wisconsin DOJ joined the FTC and 11 other states in suing to block Playpower's acquisition of BCI Burke.

WRA's Tom Larson said continued rate increases would hurt buyer affordability and keep potential sellers from listing. The lawsuit argues the merger would drive up prices and decrease innovation and quality for customers such as schools and parks departments.