Home sale dip pushes interest rates even lower - KWWL - Eastern Iowa Breaking News, Weather, Closings

Home sale dip pushes interest rates even lower

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NEW YORK (AP) -- Interest rates are tumbling after a sharp drop in sales of existing homes. 

The National Association of Realtors says sales of previously occupied homes plunged 27 percent in July to an annual rate of 3.83 million, far worse than analysts expected. 

Investors spooked about the potential of the economy falling back into recession have been pouring money into bonds.

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