U.S. home resales soar in December

WASHINGTON — Sales of existing U.S. homes jumped in December to their highest level in nearly two years, suggesting lower mortgage rates are benefiting the market. The National Association of Realtors reported that December’s sale rose 3.6% to a seasonally adjusted annual rate of 5.54 million units. Not since February 2018 has the pace risen so high. November’s sales rate of 5.35 million units was unrevised. December’s increase surpassed the expectations of economists, who in a Reuters poll forecast a 1.3% hike to a SAAR of 5.43 million units.