Lawler: Early Read on Existing Home Sales in July

Update on Mortgage/MBS Yields and Spreads

From housing economist Tom Lawler:

Early Read on Existing Home Sales in July

Based on publicly available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.92 million in July, down 0.3% from June’s prelim…