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Housing permits improved for the second straight month in October but housing starts skyrocketed, rising 25.5 percent above September's level to a seasonally adjusted annual rate of 1,323,000 units. The increase came on the heels of a 9 percent downturn in September when a 39 percent drop in multi-family starts offset what was an otherwise encouraging gain in the single-family sector. That original estimate was revised slightly higher in today's report from the U.S. Census Bureau and Department of Housing and Urban Development, rising from 1,047,000 units to 1,054,000. October's gain put housing starts on a pace 23.3 percent above that of October 2015. The improvement in housing starts was broad based. All four regions of the country posted double digit percentage gains. The October surge was
Housing News
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Housing permits improved for the second straight month in October but housing starts skyrocketed, rising 25.5 percent above September's level to a seasonally adjusted annual rate of 1,323,000 units. The increase came on the heels of a 9 percent downt... (read more)
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Mortgage Rate Watch
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Mortgage rates finally caught a break today, moving somewhat lower after hitting the highest levels of the year yesterday afternoon. In fact, several lenders moved rates even higher to start the day today, due to weakness in bond markets this morning... (read more)
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MBS Commentary
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This morning's commentary will be a bit heavy in terms of the focus on technical analysis, but as always, this isn't exactly old school, textbook technical analysis as much as it is my own spin on it, which has generally served us well over the ... (read more)
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Rob Chrisman
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The FDIC reports banks paid $37.5 billion in taxes through Q2. That’s a lot. In individual tax news, the Mortgage Bankers Association sent out a joint trades letter urging Congress to act on real estate tax extenders (mortgage debt forgiveness ... (read more)
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MBS Commentary
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Bond markets managed to scrape together a day-over-day improvement by a very small margin. 10yr yields closed 1.6bps lower and Fannie 3.5s gained a paltry 1/32nd of a point. That isn't the sort of thing that would typically be exciting ... (read more)
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Housing News
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Two recent data releases from CoreLogic's Insurance and Spatial Solutions division assess earthquake risk in California and Oklahoma. Yes, Oklahoma, a place normally thought of in terms of tornados risk, now outstrips California in the frequency of e... (read more)
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freddiemac.mwnewsroom.com
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