Tuesday: New Home Sales

From Matthew Graham at Mortgage News Daily: Mortgage Rates Hold Ground Near Lows. Can it Continue?

Mortgage rates held their ground today, with the average lender in roughly the same shape as they were on Friday. Incidentally, that’s great shape! When it comes to the best-case scenario conventional 30yr fixed quote, rates are still very close to the all-time lows seen two weeks ago. [30YR FIXED – 3.00%]
emphasis added

Tuesday:
• At 10:00 AM, New Home Sales for May from the Census Bureau. The consensus is for 640 thousand SAAR, up from 623 thousand in April.  Note that new home sales are reported when a contract is signed, so we should see a rebound in sales in May (unlike existing home sales).

• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for June.

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