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March 24, 2017

New-home sales up despite higher mortgage rates

WASHINGTON (AP) — Americans responded to higher mortgage rates by snapping up new homes in February at the fastest pace since July.

New-home sales rose 6.1 percent month-over-month to a seasonally adjusted annual rate of 592,000, the Commerce Department said Thursday. That sales pace is nearly 13 percent higher than February of last year, a positive sign for the housing market that demand is robust at the start of the spring home-buying season.


 
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