Salient to Investors:

  • Thomas Simons at Jefferies said new-home sales have no traction whatsoever but overall housing data is encouraging, with everything moving in the right direction, though a little more slowly.
  • New-home sales are tabulated when contracts are signed, and so are a more timely barometer than transactions on existing homes.
  • The average 30-yr, fixed-rate mortgage is 4.1% versus 4.53% on January 1, 2014.

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