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Existing Home Sales hit the tape down 16.7% to 5.45 million units, the largest decline since 1968

Existing Home Sales hit the tape down 16.7% to 5.45 million units, the largest decline since 1968. Economists were looking for a much better number. While sales declined in every region, inventories came down a bit, a good sign that “maybe” we can work through glut even if government support dwindles.

2010-01-25T16:56:11-06:00January 25, 2010|Austin Mortgage Market|

Dow Crosses Above 10,000

Stronger than expected economic data, solid earnings reports, and upward revisions to the Fed's growth forecast propelled the Dow stock index above the 10,000 level for the first time since October 2008. However, these same factors were unfavorable for Austin mortgage rates, and they ended the week modestly higher.

2009-10-16T18:15:14-05:00October 16, 2009|MBS Quoteline Newsletter|