A Sotheby's "For Sale" sign is displayed outside of a townhouse in New York, U.S., on Monday, June 23, 2014. Americans snapped up previously owned homes in May in the biggest monthly sales gain in almost three years, a sign the residential real estate market is regaining its footing after a stumble early in the year. Photographer: Craig Warga/Bloomberg ** Usable by CT and LA Only **
Craig Warga A Sotheby's "For Sale" sign is displayed outside of a townhouse in New York, U.S., on Monday, June 23, 2014. Americans snapped up previously owned homes in May in the biggest monthly sales gain in almost three years, a sign the residential real estate market is regaining its footing after a stumble early in the year. Photographer: Craig Warga/Bloomberg ** Usable by CT and LA Only **

The mortgage market, beaten down by higher interest rates and weak home sales, is showing signs of perking up.

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