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Economy

US new home sales near two-year low as mortgages rates rise

Updated : October 25, 2018 11:49 AM IST

The Commerce Department said on Wednesday new home sales dropped 5.5 percent to a seasonally adjusted annual rate of 553,000 units last month.
New home sales are drawn from permits and tend to be volatile on a month-to-month basis. They declined 13.2 percent from a year ago.
US new home sales near two-year low as mortgages rates rise

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