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Existing Home Sales Picked Up in July

Mortgage News > Existing Home Sales Picked Up in July
Date: 08/21/2019    Existing Home Sales Picked Up in July

Sales of existing U.S. homes rose 2.5% in July to a seasonally adjusted annual rate of 5.42 million, according to the National Association of Realtors, boosted by falling mortgage interest rates. Average rates on 30-year fixed rate mortgages declined to 3.6% during the same time, the lowest point in over 31 straight months. Lower rates and greater affordability have encouraged more buyers to take the plunge. Compared to last year, sales are also up 0.6%.

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