Housing Recovery Far from “All in.”

New Home Sales (October 2012) New Home Sales (Seasonally Adjusted Annualized Rate) 368,000. Previous was 389,000. Mortgage Applications (week ended 11/23/2012) Purchase Index – Week/Week +3.0% Refinance Index – Week/Week -2.0% Composite Index – Week/Week -0.9% We have mixed messages: purchase applications are up and New Home Sales are down. While the fall in New