St Casimirs Mortgage Minute

ECONOMY
Existing Home Sales Surge 

Existing home sales rose 3.2 percent in June to a seasonally adjusted rate of 5.49 million, the National Association of Realtors said yesterday. Sales -- which rose to their highest pace since February 2007 -- have increased year-on-year for nine consecutive months and were 6.5 percent above June 2014’s level. The median home price for the month reached a record high of $236,400, up 6.5 percent from a year ago and surpassing the previous record set in 2006--  ABA Daily Newsbytes