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Housing Starts Tick Up, Mortgage Apps At 28-Year Low Amid Rate Surge
US housing starts missed estimates for September in data released on Wednesday, even as they bounced from the prior month.
The figures came a day after an unfortunate read on the NAHB's sentiment gauge showed the mood among builders was the most depressed since January this month, as persistently high rates eroded demand and pushed up costs.
Starts ran at a 1.358 million pace last month, the government's report showed. That was slightly below consensus. The range, from five-dozen economists su
Good news from the Fed. They’re holding rates at current levels. And they recognized how changing financial conditions can do the Fed’s work, limiting the need for further actions. Fingers crossed.