Briefly
* The average rate on a benchmark 30-year fixed mortgage in the U.S. fell for the fourth straight week, dropping to 5.78% last week from 5.80% the week before, Freddie Mac said.
The 15-year fixed rate fell to 5.33% from 5.36%. The one-year adjustable rate fell to 4.21% from 4.26%.
* U.S. sales of previously owned homes unexpectedly rose 1% in March to an annual rate of 6.89 million units to the third-fastest pace ever from February’s 6.82 million, the National Assn. of Realtors said Monday. Low interest rates and job gains were among the factors encouraging buying.
* Sales of new homes shot up 12.2% in March to a record 1.43 million annual rate from February, surpassing the old mark of 1.3 million in October, the Commerce Department said Tuesday.
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