Economic Events on February 23, 2011

The Mortgage Bankers’ Association purchase index was released at 7:00 AM EST, and there was a week to week increase of 5.1% in the Purchase Index and a week to week increase of 17.8% in the Refinance Index.

At 7:45 AM EST, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:55 AM EST, the weekly Redbook report will be released, giving us more information about consumer spending.

At 10:00 AM EST, the Existing Home Sales report for January will be released.  The consensus is that existing homes were sold at an annual rate of 5.25 million last month, which would be an decrease of 30,000 from last month.

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