NAR: June Home Sales Weakest in over 4 Years, Mortgage Rates Dip
25 July 2007
Treasuries opened down but later moved into positive territory today after weaker than expected results were posted.
NAR announced that home resales in June were the weakest in over 4 years. This confirmed the fact that housing is still in a rapid slowdown. Tomorrow we’ll see June’s New Home Sales data.
The Commerce Department will post Durable Goods data tomorrow morning, and a decrease in the expected number could show a weakness in the manufacturing sector and leave room for rates to drop and bonds to increase tomorrow.
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