Pending Home Sales

“Pending home sales dropped 8.7% in December, vs. consensus -0.3% – largest decline since expiration of first-time homebuyer tax credit in 2010 – unfavorable indicator for near-term existing home sales – follows disappointing new home sales already released for month. Sales declined in the Northeast (-10.3%), West (-9.8%), South (-8.8%), and Midwest (-6.8%). The broad-based declines by region suggest that colder-than-average weather was likely not the primary driver, given slightly warmer-than-average temperatures on the Pacific coast in December.” (Goldman Sachs)

Refinancing Index

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