Purchases of new U.S. homes rose in April for the first time in three months as buyers took advantage of falling mortgage rates. Sales (NHSLTOT) increased 6.4 percent, the most since October, to a 433,000 annualized pace from a revised 407,000 in March that was larger than initially estimated, Commerce Department data showed today in Washington. The median forecast of 75 economists surveyed by Bloomberg called for the rate to accelerate to 425,000. The April gain reflected a surge in Midwest sales. Declining borrowing costs and greater employment opportunities raise the prospects for an industry that has struggled to ... (full story)