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Business

Best home sales in years signal building gain

Sales of new homes rose in June to the highest level in five years, pointing to gains in residential construction that will support the economic expansion in the second half of the year.

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Flipping rebounds as home market revives

With prices rising at the fastest pace since the real estate peak in 2006, buying and selling houses within six months, or flipping, is back in vogue.

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New-home sales rise more than forecast

Sales of new U.S. homes climbed more than forecast in May to the highest level in almost five years, a sign of continued strength in a market that’s helping fuel economic expansion.

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Mortgage rates surge the most in two years

The increase in mortgage rates, sparked by expectations that the Federal Reserve will scale back bond purchases, provides a test for a yearlong housing recovery that’s been fueled by home-loan costs near record lows.

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