(Image source: miamiagentmagazine.com) Pending home sales for the month of September crashed to a three year low. The index showed a decline of 5.6 percent to 101.6. Here are some of the potential reasons for the drop: Rising mortgage rates-Rates last month were at a two-year high. Tapering talks are scaring investors about high mortgage rates. Some homeowners are holding onto their homes for better prices-The expectation of higher prices by sellers drives inventory lower.