If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Last week the Commerce Department announced an unexpected 3.6% increase in housing starts in June. The 582,000 units started last month is a solid gain from May’s 562,000 and much more than the 532,000 analysts had been expecting. The [...]
Multi-family homes (apartments) seem to be behind the comparatively big increase.
BBC: US new homes increase by quarter “The rate of construction of new homes in the US soared by almost a quarter in February compared with the previous month, official figures show.”
AP: Housing starts surge; wholesale prices edge up “Housing construction posted a surprisingly large [...]
Last week, average 30-year mortgage rates jumped 0.35 percentage points to 5.24%. Not coincidentally, that same week the Mortgage Bankers Association’s index of mortgage applications dropped nearly 10%. (This came on the heels of the incredibly-not-surprising news about December’s nearly 11% drop in new housing permits from November. Starts were down 15.5%.)
Apparently 5% is the [...]
Loading ...