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Has “Housing Stability” Become a “Housing Rebound”?

January 26, 2007 by Scott Kinne

Mortgage bonds continue their slide after yesterday’s outright hysteria.

Today’s New Homes Sales showed a 4.8% jump in December to an annualized pace of 1.12 million homes. This is about 14% higher than July’s pace and some economists are wondering if "housing stability" just turned into "housing rebound". Home supply plummeted from 7.2 months to 5.9 months over the same 5 months.

This week’s housing data is the last piece of economic data that the FOMC will have at its fingertips prior their meeting next week. The Fed will consider housing’s impact most carefully and some traders are already expecting an inflationary pressure warning.

Momentum is against mortgage bonds right now and that is rocketing rates higher.

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Scott Kinne

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NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

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