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New Home Sales Collapse 13.4% In July

 New home sales collapsed in July by a full 13.4%. According to the AP, this is a 9-month low.

A rise in interest rates has also resulted in a decrease in mortgage applications.

This isn't the only bad news coming out of July. Only 162,000 jobs were created during the entire month–most of them part-time.

Thursday,  jobless claims rose by 13,000 over the previous week to 336,000.

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