Existing Home Sales from National Assoc of Realtors
September's Existing Home Sales data was posted at 10:00 AM ET this morning. The National Association of Realtors announced that home resales rose 0.7% last month when analysts were expecting to see a decline. This indicates that the housing sector was stronger than thought, making the data bad news for bonds and mortgage rates. However, this is only a moderately important report and is not the cause of this morning’s losses.