U.S. Existing-Home Sales Probably Rose

Sales of previously owned U.S. homes probably increased in March as a drop in mortgage rates propelled demand to its strongest quarter in almost two years.

Purchases climbed 0.7 percent to a 4.62 million annual rate from 4.59 million in February, according to the median estimate of 72 economists in a Bloomberg News survey. Sales in the first three months of the year would average 4.61 million at an annual pace, the best since April through June 2010. Jobless claims declined last week, other data may show.