Annualized new home sales stand at 481K in the US in the first month of 2015, better than 471K predicted. Last month’s number was revised up marginally to 482K. The mortgage delinquency rate has fallen from 5.85% to 5.68%. Yellen gives her second part in testimony.
EUR/USD still stuck in range as the dollar recovers. The pair trades at 1.1350. GBP/USD under 1.55.
The median sale price has risen to $294.3K in comparison to 269.8K last year.
Yellen begins with repeating her prepared statement before answering more questions from elected officials.
Yellen said that once forward guidance is removed, there could be a rate hike in any meeting, but not at a specific date. Basically it is all data dependent. The central banks still talks about patience regarding the rates, but the rates are expected to rise, with June and September being the most sought after dates.
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