Tuesday, September 25, 2012

Wednesday: New Home Sales

by Bill McBride on 9/25/2012 08:53:00 PM

A couple of "zingers" from the WSJ: Seven Zingers in Sheila Bair’s New Book

On Mr. Paulson not having time to meet with her early on: “Clearly, the former CEO of Goldman Sachs didn’t think the head of an agency that insured $100,000 bank deposits was worth his time. That would change...”

Ms. Bair got zinged herself by a protester outside the Treasury building during TARP negotiations, mistaking her for a “fat cat” banker as she exited. “How much did that suit cost?” the protester asked. $139 at Macy’s, Bair replied.
On Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. Look for record low mortgage rates and some pickup in refinance activity.

• At 10:00 AM, the Census Bureau will release the New Home Sales report for August. The consensus is for an increase in sales to 380 thousand Seasonally Adjusted Annual Rate (SAAR) in August from 372 thousand in July. Watch for possible upgrades to the sales rates for previous months.

A question for the September economic prediction contest: