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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Wednesday, May 23, 2012

Home Price Index Spikes to Four-Year High

Data released on Wednesday shows that the purchase price of homes backed by Fannie Mae and Freddie Mac spiked to a new four-year high, as shown on the graph below.

We'll see whether this spike represents a turning point on increasing house prices (home price bubble forming?)...one to watch over the months ahead.


In contrast, MBA purchase applications fell 3% and and the amount of refinancing fell below the prior week's numbers, as shown below...also ones to keep a eye on over the next weeks.