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Chart of the Day: Rates fall and house sales soar

Wednesday, 4 Dec 2013 | 10:37 AM ET

The cheaper it gets to borrow money, the faster people want to buy houses.

The average rate for a 30-year mortgage fell 30 basis points from September to October, and new home sales responded with their biggest monthly jump in more than 33 years.

(Read more: October new home sales)

With rates on the rise, new home sales may dip again, though.