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US home sales increase 2.6 percent in June to 5.04 million, fastest pace in 8 months

Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.

The National Association of Realtors says that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04 million homes. It marked the first time that sales have been above the 5 million-mark since October.

Even with the three months of increases, sales are still 2.3 percent below the pace in June of last year.

Sales peaked in early summer last year and then lost momentum as mortgage rates rose from extremely low levels. Sales were further hurt by an unusually severe winter.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.12% dw 4.18%  
15 Y Fixed Graph 3.25% up 3.21%  
30 Y Fixed Jumbo Graph 4.55% dw 4.69%  
5/1 ARM Graph 3.48% up 3.32%  
5/1 Jumbo ARM Graph 3.45% dw 3.71%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.30% up 4.29%  
$50K HELOC Graph 4.06% up 4.04%  
$30K Loan Graph 5.10% -- 5.10%  
$50K Loan Graph 4.53% -- 4.53%  
$75K Loan Graph 4.53% -- 4.53%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.92% dw 2.93%  
36 M Used Graph 3.42% dw 3.46%  
48 M New Graph 3.21% dw 3.22%  
48 M Used Graph 2.99% -- 2.99%  
60 M New Graph 3.23% dw 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.38% up 0.37%  
1 yr Graph 0.70% -- 0.69%  
5 yr Graph 1.47% -- 1.47%