Low (Rate) Rider! New Home Sales Increase As Mortgage Rates Drop To 4.06% (Core Inflation Drops To 1.4% YoY As Well)

The 30-year mortgage rate is dropping fast and the housing data is low riding on the rate decline.

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And with the drop, both new home sales and existing home sales are enjoying a revival.

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The Core PCE and Core PCE deflator YoY (aka, core inflation) are both declining. The deflator is actually down to 1.4% YoY.

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US New Home Sales Decline 4.1% YoY In January As Median Price Continues To Decline

Has. the US housing market peaked?

In terms of new home sales, perhaps. January new home sales declined 4.1% YoY and the downward trend continues.

nhsyoy

The median prices of one family houses declined once again as one family houses for sales increased.

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The new home sales figures are disturbing given the decline in the 30-year mortgage rate since November 2018.

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