New home sales hit 7-month lows

Ugly picture for new home sales this morning, hitting a seven-month low. Market doesn't like it. Diana Ol has the numbers and the why.Diana. Yeah, Kelly, you stole my word. I was going to say ugly report.No question. Look, sales of newly built homes dropped nearly 14% in May from April. The street was looking for a 6% decline.This count is based on signed contracts. So, people out shopping in May when mortgage rates remain stubbornly high. The average on the 30-year fixed mortgage started May at 6.83% 83% r ...