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Existing home sales moved higher in October, the second consecutive month of growth . The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos and cooperative apartments was at a seasonally adjusted annual rate of 6.34 million units. This was 0.8 percent higher than the rate of 6.290 million in September but 5.8 percent below the 6.73 million rate a year earlier. Single-family home sales increased 1.3 percent from 5.59 million in September to a seasonally adjusted annual rate of 5.66 million, but this lagged the October 2020 sales by 5.8 percent. Condo and co-op sales fell 2.9 percent month-over-month to 680,000 units and were 5.6 percent lower an on annual basis. Sales were slightly higher than estimated by analysts polled by Econoday
Existing home sales moved higher in October, the second consecutive month of growth . The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos and cooperative apartments was at a seasonally adjus... (read more)
The ink wasn’t dry on Fannie Mae’s October economic forecast when the month’s Consumer Price Index (CPI) was published showing an inflation rate two-tenths higher than the company’s economists had predicted. Fannie Mae’s... (read more)
Time flies. For example, Thanksgiving week is here already. Debbie Harry, of Blondie fame, is 76 years old. Better.com has already been around five years. No lender wants to see the word “fraud” in its history while folks are watching its... (read more)
Winter is coming, both literally and figuratively. While the fallout remains to be seen, financial markets are already reacting. In the literal sense, colder ambient temperatures are generally correlated with increased covid case counts. The following chart shows per capita covid hot spots juxtaposed with a low temp map from 2 weeks prior. Market participant... (read more)
Abrupt Sell-Off To Begin Holiday-Shortened Week
The day began with confirmation that Fed Chair Powell would be re-nominated for another term. Until now, there was some speculation that Fed governor Lael Brainard would take the helm, but Biden instead nominated her to be the vice chair. Brainard is more bo... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.