Low Mortgage Rates Drive U.S. Home Sales

New home sales in the U.S. climbed again in August, fueled by low mortgage rates and an urban exit from metro regions, says the Department of Commerce. Sales of new single-family homes rose 4.8 per cent to a seasonally adjusted annual rate of 1.011 million from the revised July rate of 965,000. This is a 43.2 per cent increase above the 706,000 sales in August 2019.