Home Sales Leap to a Two Year High as Mortgage Rates Fall


Posted on Jun 25, 2012

The Department of Commerce reported that purchases had gone up to a 369,000 annual rate. This represents a 7.6% gain in comparison to the previous month. It was also the highest leap ever since April 2010.

The Federal Reserve seems to advocate for these increases in sales. Last week, the Fed extended a program that was geared towards maintaining low figures on long-term interest rates. The Fed primarily aims at suppressing unemployment, sustaining housing and slowing the global slowdown which in its viewpoint may delay expansion.

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