Existing Home Sales from National Assoc of Realtors
Today’s only relevant economic data came from the National Association of Realtors at 10:00 AM ET. Their Existing Home Sales report for December showed that home resales rose 0.7% last month, exceeding forecasts. The increase brought annual sales to their highest level since 2006, showing that the housing sector remains one of the few bright spots in the economy. Accordingly, we should consider the data bad news for bonds and mortgage rates.