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Existing home sales in the United States have jumped, reaching a 6 1/2 year high last month. Home Sales grew to an annual rate of 5.48 million units in August, a 1.7% increase according to the National Association of Realtors. Lawrence Yun, NAR chief economist said, “rising mortgage interest rates pushed more buyers to close deals, but monthly sales are likely to be uneven in the months ahead from several market frictions.” Many home buyers are trying to avoid rising mortgage rates and lock-in current borrowing costs. More here
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