rates-dip-on-very-weak-november-new-home-sales

By:: Paul King - MortgageLoan.com

November New Home Sales data usually has little impact on mortgage pricing, but todays report was so bad that it did. November showed a huge 9% decline in new home sales, way below expectations and the worst level since 1995. This shows that housing is getting worse, and not close to recovery. It is good news for mortgage rates. Looking forward to Monday we will see November Existing Home Sales report which many expect will fall in line with today's New Home Sales report.

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