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Weak new-home sales raise fear of faltering housing recovery

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The number of new home sales dropped in July to the lowest level in nine months, raising fears that rising mortgage rates are slowing progress in the housing market. The Census Bureau and Department of Housing and Urban Development reported Friday that 394,000 new single-family homes were sold in July, down 13.4 percent from June’s rate, although up 6.8 percent from a year ago. Analysts...

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