Rates flat
"Economic data releases this week offered mixed signals as to the state of the housing market. Total existing home sales jumped 9.4% to an annualized rate of 5.57 million homes in September, the strongest pace since July 2007,
according to the NAR. However, new home sales unexpectedly fell 3.6% to 402,000 houses, the weakest since June of this year, based on
figures from the Department of Commerce. Nonetheless, stronger housing demand has lowered the inventory of unsold existing homes in September to the lowest since January of this year and for new homes the lowest since November 1982, which should help stabilize falling house prices." said
Frank Nothaft, Freddie Mac vice president and chief economist.
Freddie Mac rate surveys.