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Existing home sales rose 1.7% in August to the highest rate since February 2007, the National Association of Realtors said Sept. 19.

Sales rose to an annual rate of 5.48 million, following July’s 5.39 million.

The August level was higher than economists’ median forecast of a drop to 5.25 million rate, Bloomberg News reported.

The data reflects some transactions thatn a month or two earlier when buyers were trying to get loans when mortgage rates were near record lows, Bloomberg reported.