​Despite Tumbling Mortgage Rates, US New Home Sales Dropped In August – Tyler Durden

Despite Tumbling Mortgage Rates, US New Home Sales Dropped In August New home sales in the US tumbled 4.7% MoM in August (though slightly less than the 5.3% drop expected) after July’s huge 10.3% MoM jump (revised down from +10.6%) Source: Bloomberg On a YoY basis, new home sales were up 9.8% (but down to 716k SAAR on the month), continuing to dramatically decouple from pending- and existing-home sales… Source: Bloomberg Interestingly, despite tumbling mortgage rates and soaring mortgage applications, sales dropped MoM… Source: Bloomberg Now, with The Fed pivoting into an easing cycle, will home prices start surging once…  — Continue at ZeroHedge News : Read More