Last week's scheduled economic news included reports on new and existing home sales, the FHFA House Price Index, and weekly reports on mortgage rates and new jobless claims. The week finished with a report on consumer sentiment.
Last week brought mixed news; while the Department of Commerce reported a dip in new home sales, mortgage rates also fell. The Federal Reserve's FOMC statement revealed that quantitative easing would be further reduced by an additional $10 billion monthly.
The holiday season and winter weather slowed home sales in November. Last week, the NAR reported that sales of existing homes had slumped to their lowest level in nearly a year, but this was not unexpected.
According to the Commerce Department, New Home Sales slipped 1,000 units last month, falling to 368,000 units on a seasonally-adjusted, annualized basis.
Pricing for both conforming and FHA mortgage rates improved between Monday and Friday, with the majority of gains occurring late in the week.
According to the U.S. Census Bureau, the number of new homes sold jumped to 389,000 units in September 2012 on a seasonally-adjusted, annualized basis.
According to the U.S. Census Bureau, the number of new homes sold slipped 0.3 percent in August 2012 to a seasonally-adjusted, annualized 373,000 units sold.
Sales of new homes slipped 8 percent in June.
As reported by the Census Bureau, 369,000 new homes were sold last month on a seasonally-adjusted, annualized basis.
Sales of new homes ticked lower in March, unexpectedly.