Consumer confidence in the U.S. unexpectedly dropped in August from a six-year high as Americans faced rising interest rates. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment for this month fell to 80 from 85.1 in July, which was the highest since July 2007. The median projection of 68 economists surveyed by Bloomberg called for little change at 85.2. Higher mortgage rates are threatening to crimp momentum in the housing market that’s contributed to economic growth. At the same time, job growth and increased personal wealth tied to stock portfolios and home values are helping offset ... (full story)