Sales of new U.S. homes climbed in August following two of the worst months this year, indicating that the record-high mortgage rates still has its effect on the housing sector and its recovery.
Sales increased 7.9 percent to a 421,000 annualized pace following a 390,000 rate in the prior month that was less than previously estimated. Sales slumped 14.1 percent in July.
The back-to-back readings were the weakest this year, and fell short of an average 446,000 rate in the first six months of 2013.
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