Existing Home Sales Up, Rates Increase
24 March 2008
The stock market rallied and mortgage rates increased today on stronger than expected economic February Existing Homes data. For the first time in a while housing improved over the previous month, when it was widely expect to weaken. Rates will be worse by about a half point to the price today.
Looking forward in the week, tomorrow we’ll get the March CCI (Consumer Confidence) report, and Wednesday the Commerce Department will report Durable Goods Orders.
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