U.S. Home Sales Near 10-Year High as Mortgage Rates Rise
Reuters, Dec. 21, 2016–Mutikani, Lucia
U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in mortgage rates in anticipation of further increases in borrowing costs. A separate report from the Mortgage Bankers Association on Wednesday showed applications for loans to buy a home increased 3 percent last week from the previous week.
