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Chart of the Week

Archived Chart: From December 27, 2019

New home sales advanced to 719,000 in November, another demonstration of the effect that lower interest rates is having on the housing market. The Fed’s reversal in rhetoric, which led to three interest rate cuts, helped mortgage rates fall close to cycle lows, which has reinvigorated both home buying and homebuilding. Although not currently the case, deteriorating housing market conditions may warn of the first recession in over a decade. Stay tuned...


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