We expect August existing home sales to rise 0.6% to a 5.18M unit rate, maintaining their upward climb. We expect existing home sales to maintain their uptrend in August. While sales have been advancing since April, they remain 4.3% below last summer’s peak. Traditional 30-year fixed mortgage rates edged lower in August and are currently sitting near one-year lows. Pending sales – pertaining to signed contracts that have yet to close – were up 3.3% in July after falling in June. The data suggests existing home sales continued to climb into August, albeit at a softer pace. New home sales likely rose 2.9% to a 424K ... (full story)