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US housing starts in June fell 12.3% to 1173k reversing the May surge of 1337K vs 1311K which was a 11 year high. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates. Mortgage data was also weak today.

hammer and nailsHousing Starts

  • Housing starts and building permits fall to nine-month low
  • US June housing starts 1173K vs 1320K expected, Prior 1337K (revised down from 1350k)
  • Housing starts -12.3% vs -2.2% expected
  • Single family home starts -9.1%

Buiding Permits

  • Building permits 1273K vs 1330K expected
  • Building permits -2.2% vs +2.2% expected, Prior permits 1301K
  • Single family permits +0.8%

US MBA mortgage applications w/e 13 July

  • -2.5% vs +2.5% prior
  • Purchase index 247.9 vs 261.5 prior
  • Market index 363.3 vs 372.6 prior
  • Refinancing index 979.6 vs 958.5 prior
  • 30-year mortgage rate 4.77% vs 4.76% prior

 

May Housing Starts Recap

  • Housing starts for May 1350K vs. 1311K expected.
  • Housing starts are new 11 year highs.
  • Housing starts prior month revised slightly lower to 1286K from 1287K
  • Housing starts rose 5% on the month after declining -3.1% last month 
  • Single-family starts rose 3.9% to 936,000 units.
  • Multi family starts rose 7.5% to 414,000 units 

Building Permits

  • Building permits 1301K vs. 1350K expected
  • Building permits prior month stayed steady at 1364K.
  • Building permits fell -4.6% after a -0.9% decline last month
  • Ssingle-family permits fell -2.2% to 844,000 units.
  • Multifamily permits fell -8.8% to 457, 000 units

From The TradersCommunity News Desk

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