WRAPUP 1-US new home sales rebound; house price decline slowing [Yahoo! Finance]
Federal Home Loan Mortgage Corporation (FMCC)
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Source: Yahoo! Finance
WASHINGTON, April 23 (Reuters) - Sales of new U.S. single-family homes rebounded in March from February's downwardly revised level, drawing support from a persistent shortage of previously owned houses on the market, but momentum could be curbed by a resurgence in mortgage rates. New home sales jumped 8.8% to a seasonally adjusted annual rate of 693,000 units last month, the highest level since last September, the Commerce Department's Census Bureau said on Tuesday. The sales pace for February was revised down to 637,000 units from the previously reported 662,000 units. Economists polled by Reuters had forecast new home sales, which account for more than 10% of U.S. home sales, would advance by a rate of 670,000 units. "Mortgage rates have backed up, climbing above 7% in recent weeks, a headwind for buyers," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. "Even so, a lack of supply of existing homes is likely to shift demand towards new homes." New hom
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FMCC
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FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 5/1/24 - Form 8-K
- 5/1/24 - Form 10-Q
- 4/30/24 - Form ABS-15G
- FMCC's page on the SEC website