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