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U.S. home prices up, but slip in confidence could be a concern

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NEW YORK (Reuters) - U.S. home prices slowed their rate of gains in July and a dip in consumer confidence this month underscored the potential for higher borrowing costs and a sluggish economy to dent a housing market recovery.

The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.6 percent on a seasonally adjusted basis, a little slower than the 0.8 percent gain economists in a Reuters poll had expected and the 0.9 percent increase logged in June.

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