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Morning Mortgage Meltdown: Some Good News, More Bad News

First the good news, because it's early and we could all use a little something sweet with our coffee. Sales of existing homes actually rose in July, with a new annual pace reaching 5 million, up from both last month's 4.85 million and the projected 4.9 million. The inevitable bad news: July sales were still down by more than 13% from last year and the national median price of homes fell by 7%. [CNN]