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Mortgage News Daily

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ECON: Housing Starts Highest Since July 2008, Stronger Than Expected
Posted to: Micro News
Tuesday, November 20, 2012 8:44 AM

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- Starts +3.6 pct to 894k vs 840k consensus
- Permits -2.7 pct to 866k vs 865k consensus
- Multifamily Starts +11.9 pct, SFRs down 0.2 pct
- Commerce Dept says Sandy impact "minimal"

BUILDING PERMITS
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 866,000. This is 2.7 percent (±0.8%) below the revised September rate of 890,000, but is 29.8 percent (±1.8%) above the October 2011 estimate of 667,000. Single-family authorizations in October were at a rate of 562,000; this is 2.2 percent (±0.8%) above the revised September figure of 550,000. Authorizations of units in buildings with five units or more were at a rate of 280,000 in October.

HOUSING STARTS
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 894,000. This is 3.6 percent (±13.1%)* above the revised September estimate of 863,000 and is 41.9 percent (±15.9%) above the October 2011 rate of 630,000. Single-family housing starts in October were at a rate of 594,000; this is 0.2 percent (±10.3%)* below the revised September figure of 595,000. The October rate for units in buildings with five units or more was 285,000.

HOUSING COMPLETIONS
Privately-owned housing completions in October were at a seasonally adjusted annual rate of 772,000. This is 14.5 percent (±15.6%)* above the revised September estimate of 674,000 and is 33.6 percent (±17.3%) above the October 2011 rate of 578,000. Single-family housing completions in October were at a rate of 542,000; this is 3.4 percent (±11.9%)* above the revised September rate of 524,000. The October rate for units in buildings with five units or more was 226,000.




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  • 30YR FNMA 5.0 109-31 (-0-01)
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  • 30YR FNMA 5.5 111-07 (0-03)
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