Mortgage Market Updates

	Quarterly Housing Starts by Intent compared to New Home Sales
	We can't directly compare single family housing starts to new home sales. For starts of single family structures, the Census Bureau includes owner built units and units built for rent that are not included in the new home sales report. For an explanation, see from the Census Bureau: Comparing New Home Sales and New Residential Construction We are often a

	Schedule for Week of May 20th
	Earlier: • Summary for Week Ending May 18th There are two key housing reports to be released this week: April existing home sales on Tuesday, and April new home sales on Wednesday. Other key reports include durable goods on Thursday, and two regional manufacturing surveys. Note: The FDIC might release the Q

Summary for Week of May 18th

The headlines last week were once again mostly about Europe and Greece, especially the possibility of Greece exiting the euro (aka "Grexit") after the next election on June 17th. The outcome of the election is uncertain, although most Greeks and European policymakers would like Greece to stay in the euro. One thing is certain, Greece will be in the headlines for at least another month.

Most of the US economic data was at or abov

	Van Rompuy Statement: "Stay the course" in Europe, "Pro-growth agenda" in June
	Remarks from Herman Van Rompuy, President of the European Council prior to the G8 summit: This G8 summit comes at a time of significant challenges to the world economy, and for Europe in particular. As far as Europe is concerned, my message is straightforward: we are determined to stay the course. We will pursue our com

	Bank Failure #24 in 2012: Alabama Trust Bank
	Alabama bank Torpedoed in sea of debt Sunk by crimson tide by Soylent Green is People From the FDIC: Southern States Bank, Anniston, Alabama, Assumes All of the Deposits of Alabama Trust Bank, National Association, Sylacauga, Alabama As of March 31, 2012, Alabama Trust Bank, National Association had approximately $5

	Grexit Update
	The Greek election is still a month away ... From the WSJ: EU Official: Greek Exit Plans Discussed The European Commission and the European Central Bank are drawing up plans should Greece abandon the euro, Trade Commissioner Karel De Gucht said in an interview published Friday, the first time a senior European Union official has

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