WASHINGTON — U.S. existing home sales increased in October as buyers took advantage of lower mortgage rates, though rising unemployment and high home prices remain a constraint for the housing market.

Home sales rose 1.2% last month to a seasonally adjusted annual rate of 4.10 million units, the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home resales would rise to a rate of 4.08 million units. Home sales advanced 1.7% on a year-over-year basis.

“Home sales increased in October even with the government shutdown due to homebuyers taking advantage of lower mortgage rates,” said Lawrence Yun, the NAR’s chief economist.

Mortgage rates decreased when the Federal Reserve resumed its interest rate cuts, data from mortgage finance agency Freddie

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