The following statistics were released today on the state of the US economy:

June’s new home sales annual rate of 350,000 is 20,000 below expectations; however, May was revised upwards 13,000 to 382,000, the highest rate in two years. April was also revised up 15,000 to 358,000.

MBA Purchase Applications rose 0.9%, with purchase applications falling -3.0%, but refinancing applications rising 2.0%. Mortgage rates were unchanged, with conforming mortgages going at 3.74%.

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Dale Franks
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