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Monday, April 20, 2020

Tuesday: Existing Home Sales

by Calculated Risk on 4/20/2020 07:16:00 PM

Note: Existing home sales are counted at the close of escrow, so the report tomorrow is mostly for contracts signed in January and February. There was probably some fall off at the end of March due to COVID.

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start The Week

While the industry has come to terms with recent challenges in terms of day-to-day volatility, mortgage rates remain higher than they otherwise would be based on financial markets. [MND's 30 Year Fixed (daily survey) 30YR FIXED - 3.44%]
emphasis added
• At 10:00 AM ET, Existing Home Sales for March from the National Association of Realtors (NAR). The consensus is for 5.30 million SAAR, down from 5.77 million.

Housing economist Tom Lawler expects the NAR to report sales of 5.25 million SAAR for March.