Surprise New Home Sales Increase For September
27 October 2008
Today rates were flat on a mixed stock market, and stronger than expected economic news. Rates could increase up to .25 to the price due to deterioration in bonds from late Friday afternoon.
The surprise today was September’s New Home Sales report which posted an increase of 2.7% when the street had expected another decline. However this news was offset by a downward revision to August data.
The big upcoming news this week is the FOMC meeting which begins Tuesday and adjourns Wednesday PM.
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