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August 2009
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New Home Sales Are Up

New Home Sales Are Up

The Commerce Department reports that new-home sales grew in July at the fastest pace in 10 months. Volume climbed 9.6 percent —the most since February 2005 —to an annual rate of 433,000,topping economists’estimates of 390,000.

Also,the median price of a new home slipped 0.1 [...]

Rates Bumped Up Slightly

Long-term mortgage rates bumped up slightly this past week,but they remain near record lows. Freddie Mac reported that average interest on a 30-year fixed loan was 5.14 percent,up from 5.12 percent a week ago. Rates for 15-year home loans,meanwhile,rose to 4.58 percent from 4.56 percent last week.

[SOURCES:Freddie Mac;Information,[...]