Mortgage Rates Today, Wednesday, Aug. 24: Low Rates Spur Highest New Home Sales Since 2007

“New home sales are finally surging, rising to the highest level since 2007, and it’s great to see evidence of much-needed growth and a shift toward more affordable prices in July’s report,” Jonathan Smoke, chief economist, said in a news release. “It’s also good news that we are finally seeing builders shifting toward more affordable price points. And given the limited number of homes currently for sale, we can be confident that the decline in new home prices is a result of market shift and not discounting by builders.” READ MORE

Via Nerdwallet

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