As Existing Home Sales ebb, New Home Sales are on the rise. February saw an 8% uptick to 539,000 annualized units closed, which is 14% above expectations and represents roughly 10% of all homes sold last month.
The Consumer Price Index (which measures the relative cost that we retail suckers pay for our stuff) rose 0.2% last month, and 1.7% from last year–right in line with the Fed’s generalized inflationary goal for the year.
Mortgage Pricing on Wall Street continues upward, helping set the stage for lower interest rates ahead.
