Economic Events on December 21, 2011

The Mortgage Bankers’ Association purchase index will be released at 7:00 AM Eastern time, providing an update on the quantity of new mortgages and refinancings closed in the last week.

At 10:00 AM Eastern time, the Existing Home Sales report for November will be released.  The consensus is that existing homes were sold at an annual rate of 5.08 million last month, which would be an increase of 90,000 from the previous month.

At 10:30 AM Eastern time, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

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