U.S. new home sales in August jumped
9.4 percent, the biggest gain since the end of 2000, propelled by
the lowest mortgage rates in four months.
“We are in the midst of, I would say, the biggest worldwide
housing boom ever,” said Robert Shiller, an economics professor
at Yale University, in an interview.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
Single-family home sales increased to a 1.184 million annual
pace last month, led by surging sales in the West and South, from
a July rate that was slower than first estimated, the Commerce
Department said in Washington.
Increased sales and a drop in the supply of homes may add to
builder backlogs and underpin construction through yearend,
contributing to growth in the world’s largest economy. The average
30-year fixed rate mortgage fell to 5.87 percent in August,
compared with the 7.63 percent average over the past ten years,
according to Freddie Mac, the second-biggest buyer of mortgages.
Bloomberg News
