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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (10001)	7/29/2004 5:20:28 PM
From: russwinter	Respond to of 116555

<Home Sales doesn't show a slowdown> Some MBAA purchase index numbers: -for five weeks ending 7-2, averaged 454 per week. -for three weeks ending 7-17, average 451. However, relative to rate levels the heroin effect may be weakening a tad. Average 30 year rate for 7-2 period was 6.19%. Average thirty year rate 7-17 period was 5.96%, and purchase index was still slightly down. The number reported next Wed, will come in well above an 6.00% rate, so might be an illustrative clue about any slowdown. If it were to hang in there at 440 plus, that would suggest not.