Chart of the Day

Chart of the Day: Rates fall and house sales soar

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.