US Existing-Home Sales jump in June

Previously occupied home sales increased by 20.7% from May to June while mortgage applications rose 19% last week. The figures were near a historic low but markets did not react to higher home sales.

Existing home sales, the largest category in the US market, increased by 20.7% in June as buyers benefited from the lowest mortgage rate while securing deferred purchases. Mortgage applications increased by 4.1% in the week ending July 17 and increased by 5.1% in the previous week, according to the Mortgage Bankers Association.