Statistical Indicators

Existing Home Sales rose 5.6%

Posted on Thursday, December 23, 2010

Yesterday we learned that according to the NAR, Existing Home Sales rose 5.6% to
> a seasonally adjusted annual rate of 4.68 million in November from October, but
> are about 28% below late 2009's levels. MBS prices finished the day roughly unchanged,
> and the 10-yr closed at 3.35%, but it was almost as if folks didn't care. Tradeweb,
> for one, sees very low volume and light sales. There just isn't a lot of locking
> and hedging going on right now. The market opened up slightly better bid overnight
> and into the New York open aided by a weaker than expected GDP (2.6% versus an expected
> 2.8%), but then gradually faded throughout the day.

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