US new home sales below expectations in June; housing supply rises
WASHINGTON (Reuters) -Sales of new U.S. single-family homes increased less than expected in June amid higher mortgage rates, pushing inventory to levels last seen in late 2007, which could keep homebuilding subdued. New home sale units rose 0.6% to a seasonally adjusted annualized rate of 627,000 units last month, the Commerce Department’s Census Bureau said…