U.S. LONG-TERM MORTGAGE RATES FALL; 30YEAR AT 3.64%

» U.S. longterm mortgage rates fell this week following a sharp rise the week before, making September the most volatile month for the key 30-year loan since March.

Mortgage rates have been running near historic lows, spurring prospective homebuyers, amid an uncertain economic outlook. Mortgage buyer Freddie Mac said Thursday the average rate on the 30year, fixed-rate mortgage dropped to 3.64% from 3.73% last week. By contrast, the average rate stood at 4.72% a year ago.

A sharply divided Federal Reserve last week cut its benchmark short-term interest rate for a second time this year but declined to signal that further cuts are likely in 2019. The Fed rate influences many consumer and business loans.

Pending home sales rebound in a hopeful sign for housing.

More Americans signed contracts to buy homes in August, signaling that low mortgage rates may spark a sustained turnaround for the housing market.

The National Association of Realtors said Thursday that its pending home sales index rose 1.6% to 107.3 in August. Pending home sales, which reflect purchases that are usually completed a month or two later, are up 2.5% from their pace a year ago.

Lower borrowing costs have been slowly boosting buyer demand. Persistently high prices, driven up by a tight supply of available homes, had previously blunted the benefits of low mortgage rates. Demand has fluctuated slightly over the past few months as home prices have risen, with contract activity dipping in July.

GateHouse-Gannett newspaper deal clears U.S. antitrust review.

YORK» GateHouse and NEW

Gannett say their newspaper deal has cleared U.S. antitrust review. It still needs approval from European regulators and stockholders of both companies. The two say they expect the deal to close this year.

USA Today owner Gannett and GateHouse argue that combining will help them accelerate the path to digital for their newspapers even as they pay down debt from the deal. The combination would create the largest U.S. newspaper company in a contracting industry, with more than 260 daily papers and more than 300 weeklies.

Getting bigger would allow the combined company to trim costs by centralizing operations, but also by cutting newsroom jobs. Community members complain that will affect local coverage.