Record jump in Home sales , proving how sensitive buyers are to mortgage rates

Sales of existing homes skyrocketed a whopping 11.8 percent in February compared with January, according to the National Association of Realtors. That is the largest monthly jump ever, with the exception of a change in mortgage policy in 2015 that temporarily skewed the data.

Realtors pointed squarely to dropping mortgage rates and home prices for the jump in demand.

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