Lower Rates, Incentives Benefit Homebuyers

The economy grew at a healthy 3.3% in the second quarter, according to the Bureau of Economic Analysis. Existing home sales ticked upward slightly, posting a 3.1% increase in July, according to the National Association of Realtors.

Time to celebrate? Maybe, maybe not.

The added boost to the nation's gross domestic product may have resulted from a weaker dollar and the springtime stimulus checks. What's more, home sales are still down 13.2% from July 2007. But the news offers hope, and prospective homebuyers might want to take notice. ...