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http://zerohedge.com/personal-finance/us-new-home-sales-surged-march-mortgage-r…

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New home sales soared 7.4% MoM in March (dramatically better than the +1.3% MoM expected), lifting sales up 6.0% YoY... While new home sales soared amid the tumbling mortgage rates, April has seen rates surge back up to 7.00%, suggesting this sudden sales spike will be short-lived... And if confirmation was needed, the more timely 'mortgage applications' data shows a major plunge in the last two weeks... ...and if you're hoping for lower rates to keep the American Dream alive, that will likely come at the cost of a recessionary...