From Alejandro Lazo of the LA Times: “Sales of previously owned U.S. homes rose in July, as more inventory hit the market and an increase in mortgage interest rates likely motivated buyers. Sales were up 6.5% from the prior month and 17.2% from the same month a year earlier.”

Ricardo Lopez adds that home-improvement retailer Lowe’s saw a spike in 2Q earnings, suggesting “even further evidence that the housing recovery is boosting the economy.”

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