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Rates Grate on Housing

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Rates Grate on Housing
AIRED:
The housing markets rebound continued- housing starts were up almost 6 percent in July- but not at the pace that economists had hoped for. And while at first, fingers might point to higher mortgage rates turning off buyers. In fact, the slower momentum may be a simple case of lack of supply and high demand for the houses themselves. The higher rates are hurting builders' ability to get the loans they need to build new homes. IHS Global Insight's Patrick Newport:moreless
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