New Home Sales Up on Low Long-Term Rates

Mortgage News from Quicken Loans

Sales of new homes rebounded in November, increasing by 3.4 percent over sales in October, according to a report issued by the U.S. Census Bureau and the Department of Housing and Urban Development.

An interest rate environment that is favorable to the consumer could be part of the reason for the increase in sales, says Bob Walters, chief economist of Quicken Loans.

"After a slight dip in new home sales in October, the market resumed its growth in November. With long-term interest rates remaining near their lows for the year, and with new homes in strong supply, market conditions look favorable for continued growth," says Walters.

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New Home Sales Up on Low Long-Term Rates

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