Mon, 22 Jul 2013 15:50:05 GMT
U.S. home resales down amid increased mortgage rates
The demand for houses declined in the U.S. as prices grow quickly and mortgage rates become more expensive. Resales of previously owned houses dropped 1.2% in June to 5.08 million. Analysts predicted that the number would reach 5.25 million, a gain of 1.4%. Despite slowdown, the resale growth was the second largest since November 2009.