Join The Discussion

 

Dee Lincoln bringing restaurant to Fort Worth's Museum Place

Dee Lincoln is bringing her restaurant to Fort Worth’s Museum Place project. The 5,300-square-foot restaurant, at 3280 W. Seventh St., is expected to open in the first quarter of

read more >

Fort Worth council members approve Cavile Place redevelopment plan

The vote kicks off what officials say will be a 10-15-year implementation.

read more >

Former RadioShack CEO caught in protest over ousted leader at Market Basket

Employees protest over many things: higher wages, better benefits, safer working conditions in their jobs. What's far more unusual, if not unprecedented, is to see workers, organized by senior managers, stage a rebellion to help their CEO get his job back.

read more >

UT Arlington Army ROTC officer named nation's top military science professor

The U.S. Army Cadet Command has named Lt. Col. Lora A. Rimmer, Commander of the Army ROTC “Maverick Battalion” at University of Texas at Arlington, the nation’s Professor of Military Science of the Year.

read more >

Fort Worth Hilton owners acquire Ashton Hotel

The Ashton Hotel, a historic boutique hotel in downtown Fort Worth, has been sold to a new owner.

read more >

 

New home sales surge to 5-year high

Emily Jane Fox

NEW YORK (CNNMoney) -- Sales of new homes jumped in June to a five-year high, despite the recent rise in mortgage rates.

New homes sold at an annual rate of 497,000 in June, up 8.3% from May, which was revised downward. June sales were well above the 483,000, that economists surveyed by Briefing.com were expecting,

It was the highest pace of sales since May 2008, when they reached 504,000.

Sales were 38% higher from the same period last year.

The report comes a day after the National Association of Realtors reported that sales of existing homes stumbled last month, which some experts called a possible side effect of rising mortgage rates lately.

The 30-year mortgage rate recently rose to its highest level in nearly two years to 4.51%.

The higher rates dragged down the pace of home building last month.

Record low mortgage rates, coupled with a drop in foreclosures, had helped boost the housing market over the past year. As a result, home sales, prices and construction had surged earlier this year.

But in the last 10 weeks, mortgage rates began a steady climb, raising the cost of buying a home. Rates, however, are still low by historical standards.

< back

Email   email
hide
Training Camp
Training camp is starting this week. How will the Dallas Cowboys do this season?