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Newsfeed: New Home Sales Unexpectedly Tumble In February As Mortgage Apps Crash

Newsfeed: New Home Sales Unexpectedly Tumble In February As Mortgage Apps Crash

Despite the unexpected plunge in existing home sales, analysts expected new home sales in February to rebound modestly from January’s drop but they were wrong (again) as new home sales fell 2.0% (+1.1% exp) and worse still January’s 4.5% drop was revised drastically worse to a 8.4% plunge.

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