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New Home Sales Stronger Than Expected
Posted to: Micro News
Wednesday, December 04, 2013 10:23 AM

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- New Home Sales 444k vs 428 forecast, 354k previously
- Single Family Sales +25.4 pct, biggest rise since 1980
- Median prices $245.8k, down 0.6 pct year over year

Market Reaction: Taken in and of itself, this would have a negative impact on MBS prices, but the ISM data out at the same time is a more potent market mover. As such, bond markets are slightly improved since 10am, but this New Home Sales data has likely limited the positive bounce.

Sales of new single-family houses in October 2013 were at a seasonally adjusted annual rate of 444,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 25.4 percent (±19.2%) above the revised September rate of 354,000 and is 21.6 percent (±15.6%) above the October 2012 estimate of 365,000.

The median sales price of new houses sold in October 2013 was $245,800; the average sales price was $321,700. The seasonally adjusted estimate of new houses for sale at the end of October was 183,000. This represents a supply of 4.9 months at the current sales rate.




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Mortgage Rates:
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  • 15 Yr FRM 3.40%
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  • Jumbo 30 Year Fixed 4.14%
MBS Prices:
  • 30YR FNMA 4.5 107-02 (0-01)
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  • 30YR FNMA 5.0 109-08 (0-00)
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  • 30YR FNMA 5.5 110-14 (0-00)
Recent Housing Data:
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  • Refinance Index -4.92%
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  • FHFA Home Price Index 0.67%