The S&P/Case-Shiller Home Price Indices July report is due next Tuesday at 9 AM. The report could show a shift in home prices following the rise in interest rates in May and June. The movement may give some insight into the Fed’s action this week to continue QE3 into the fall. Existing home sales continue to be very strong and mortgage applications for purchasing a home showed only a modest pull back. The figures will also give a baseline for the housing market at mid-year.
Full data and commentary will be avaiilable on Tuesday.