U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery.
Slightly better economic growth and stronger housing sales nudged the stock market higher Wednesday. The Dow Jones industrial average managed a four-point gain.
Americans signed the most contracts to buy homes in July than at any other point in the past two years, further evidence of a housing recovery.
The number of people seeking unemployment benefits rose a slight 4,000 last week to a seasonally adjusted 372,000, evidence that the job market's recovery remains modest and uneven.
Stocks got a modest bounce, but not enough to break even for the day, after minutes from a Federal Reserve meeting appeared to show increased urgency about providing more help for the American economy.
The recovery of the U.S. housing market is looking steadier and more sustainable, a trend that likely will add to economic growth in 2012 for the first time in seven years.
Ready for a change from the summer doldrums or the city's hustle and bustle? It seems a weekend getaway to your own vacation home would be just the ticket.
The average rate on the 30-year fixed mortgage fell again, this time dropping below 3.50 percent for the first time on records dating back 60 years.
Picture this. Dad is busy flipping burgers on the grill, Mom is laying out some fried chicken on the table, and the kids are busy plowing headfirst down the slide. Just another lazy summer's day at the local park, right?
