Mortgage Delinquencies Hit Record High, New Home Sales Disappoint
by Zero Hedge - May 28th, 2009 12:23 pm
Mortgage Delinquencies Hit Record High, New Home Sales Disappoint
Also new home sales rise to a below consensus 0.3%, "up" from a majorly downward revised March decline of -3.0%.
Amusingly, homebuilder confidence climbed to an eight-month high in May. Mortgage applications to purchase homes are also up 9 percent from February’s nine-year low. We shall see how confidence fares now that mortgage rates are at pre QE levels.