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While permits fell from the previous month, the U.S. Census Bureau and the Department of Housing and Urban Development said December was another exceptional month for residential housing starts. Those starts soared to a seasonally adjusted annual rate of 1,608,000 during the month, a 16.9 percent increase from November's estimate which was revised from 1,365,000 to 1,375,000. The December number was the highest monthly rate for starts since the same month in 2006 and was 40.8 percent higher than last year's December pace. Both single-family and multifamily construction were strong. Single-family starts rose 11.2 percent to an annual rate of 1,055,000 from the revised (from 938,000) rate of 949,000 in November. Single-family starts were 29.6 percent ahead of last December's rate of 814,000.
Housing News
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While permits fell from the previous month, the U.S. Census Bureau and the Department of Housing and Urban Development said December was another exceptional month for residential housing starts. Those starts soared to a seasonally adjusted annual rat... (read more)
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Rob Chrisman
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I’ve gotta hand it to those writers who put out listings for real estate agents. Maybe if I had a bunch of money I could live in a “secluded retreat” or an “enchanted villa.” I have never lived in a place described as a ... (read more)
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Housing News
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The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) settled back a bit after its 5-point surge in December took it to its highest level since 1999. The Index, a measure of builder confidence in the market for newly... (read more)
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MBS Commentary
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Bonds continue to be well-contained by the prevailing consolidation range--a series of higher lows and static highs that's been in place in its current form since mid October. A big break outside that range could serve as a cue for sustained m... (read more)
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Mortgage Rate Watch
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Mortgage rates improved modestly today, adding to yesterday's slightly less compelling improvement. Taken together, they keep an air of calm and steady progress intact during a week that ran the risk of stumbling across volatility. One of the key sou... (read more)
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Housing News
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The National Association of Realtors® (NAR) has uncovered another downside to the increasing lack of housing affordability in the U.S. A new study found that, in many areas where affordability has declined over the last five years, so has the rat... (read more)
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