US April single-family home sales have come in at 352k unit rate vs 351k in March, below the median forecast of 360k.
The April single home sales rate saw a +0.3% increase, compared to -3.0% in March.
Meanwhile the Mortgage Bankers Association says 1 out of 8 US households with a mortgage ended the first quarter late on loan payments or in the foreclosure process. The association feels the situation will persist for at least another year until unemployment peaks. Happy Dayz.
US stocks have trimmed their gains in the wake of the data and EUR/USD and cable slipped back a little.
