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Construction Spending Falls in October

According to a report from the U.S. Department of Commerce, construction spending in the United States in October fell by 1.2% month-over-month.

The consensus had forecast construction spending in October to decline by 1.0%. The total construction figure for September was revised upward to 0.0% from -0.3%.

Residential construction fell by 3.5%, a further drop from last month's 0.5% decline, while non-residential construction decreased 0.1%, down from the positive 0.2% figure in the prior month.

The report also noted a 2.0% decline in private construction and a 0.7% increase in public construction, which came in at 0.4% and -0.9%, respectively, in September.

By Steve Stecyk,sstecyk@economicnews.ca, edited by Sarah Sussman
©CEP News Ltd. 2008


 

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  • 15 Yr FRM 3.26%
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  • Jumbo 30 Year Fixed 4.16%
MBS Prices:
  • 30YR FNMA 4.5 107-01 (-0-04)
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  • 30YR FNMA 5.0 108-10 (-0-18)
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  • 30YR FNMA 5.5 110-20 (-0-02)
Recent Housing Data:
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  • Refinance Index 5.05%
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  • Purchase Index 1.43%

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.96%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 4.16%
MBS Prices:
  • 30YR FNMA 4.5 107-01 (-0-04)
  • |
  • 30YR FNMA 5.0 108-10 (-0-18)
  • |
  • 30YR FNMA 5.5 110-20 (-0-02)
Recent Housing Data:
  • Mortgage Apps 3.27%
  • |
  • Refinance Index 5.05%
  • |
  • Purchase Index 1.43%