US March New Home Sales YoY Rise 3% (But Trend Is Downwards With Fed Bal Sheet Shrinkage)

Declining mortgage rates aren’t helping new home sales as much as predicted.

New home sales YoY hit 36% in February 2012 and have slowly declined ever since. But the decline in YoY growth is especially noticable after The Fed began shrinking its balance sheet.

newhyou

Of course, mortgage rates have been falling DESPITE The Fed’s balance sheet unwind.

freddbalk

ryan-confused

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