Aug 24, 2009

Existing home sales surge

Price drop and the tax credit for home buyers are said to be the reason for the surge. According to the National Association of Realtors that home sales rose 7.2% to a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. It was the fourth-straight monthly increase and the highest level of sales since August 2007. For further details and the complete story check USAToday.

PrivoCorp ( processes the loans for the brokers and is not involved with the actual origination of these loans.

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