U.S. existing home sales hit more than 9-1/2-year high

U.S. home resales rose in October to their highest level in more than 9-1/2 years amid pent-up demand, offering more evidence of a pickup in economic growth in the fourth quarter, but a recent surge in mortgage rates could slow housing market activity. The National Association of Realtors said on Tuesday existing home sales increased 2.0 percent to an annual rate of 5.6 million units last month, the highest level since February 2007. It also added to strong reports on retail sales and the labor