Housing Sales Rebound

Rising mortgage rates failed to dampen Americans’ interest in buying existing homes and sales rebounded by a modest 6.7 percent in February.

Sales of existing homes rose to a seasonally adjusted annual rate of 4.75 million units last month after having fallen a sharper than previously reported 13.4 percent in January, the National Association of Realtors said Monday.

Americans have been feeling better off and in a buying mood because of plentiful jobs, rising incomes, tame inflation and stock market gains.