According to Jonas Goltermann, Developed Market Economist at ING, another decent set of data on the US housing market suggests buyers are so far coping with higher mortgage rates and the effect of tax reform. “Existing home sales rose by 1.1% month-on-month and new home sales jumped by 4%, both beating expectations. Pending home sales, an indicator of sales for the next couple of months, rose by a more modest 0.4% MoM, a touch below expectations, suggesting some dampening in the outlook for 2Q.”
Source: FXStreet