I hope everyone enjoyed their weekends!
There are just a couple of interesting reports that I want to share today.
First, consumer confidence came in below expected as consumer inflation expectations peaked. As a result of concerns of inflation, mortgage bonds are becoming lower.
Next, new home sales were reported above expectations of 520,000 coming in at 526,000. Also the unsold new home inventory dropped from 11.1 months to 10.6 months.
Last, Money magazine reports that in the year 2006, 46% of the mortgages taken by home buyers were 95% LTV or greater.
Here's to a good and lucrative week!