The data being released still does not reflect a direction or trend of economic activity.

Financial markets are being held hostage by the inconsistent data released in the last three months and the fear of trade wars. The data released last week was again in conflict. Existing home sales were below expectations for the month of April but were revised upward for both February and March. This data is highly volatile subject to the effects of weather and mortgage rates. The weather has been a negative while the drop in market interest rates has driven long-term mortgage rates lower.

 

PROBANK AUSTIN ADVISOR - MAY 29, 2019