Economic data on housing, manufacturing and jobs released on Thursday pointed to softer-than-expected economic activity in the second quarter. Most notably was April’s data on housing starts and permits, which not only came in below estimates, but prior readings were also revised down. Rising mortgage ... READ MORE >
U.S. housing permits
Industrial production rebounds as housing starts plunge
Tuesday's mixed data on housing and industrial production shows how both sectors remained on a bumpy path as a result of elevated interest rates. Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August, while permits, a proxy for future projects, also ... READ MORE >
Housing starts and permits beat forecasts as completions reach 17-year high
Housing starts and permits rebounded sharply in February after unfavorable weather slowed projects across the country in January. Housing starts rose by 10.7% in February, while permits increased by 1.9%, according to data released by the Commerce Department on Tuesday. The increases exceeded ... READ MORE >
Initial jobless claims and housing starts post upside surprises
Filings for jobless benefits fell last week to their lowest level in 16 months, a testament for how resilient the labor market continues to be. Initial claims declined to 187,000 from 203,000 in the previous week, the Labor Department reported on Thursday. That was much lower than the pre-pandemic ... READ MORE >
Housing starts fall to three-year low amid 7% mortgage rate
Housing starts in the United States fell by a sharp 11.3% in August, the second double-digit drop in three months, signaling more strain on the housing market because of elevated mortgage rates that exceed 7%. August's number was the lowest since June 2020 as the pandemic set in, according to Commerce ... READ MORE >
Housing starts and permits drop in June as rates surge
Housing starts and permits dropped in June after surging in May amid market volatility because of interest rate increases. New residential starts fell by 8% on the month, while permits for new buildings declined by 3.7%, the Commerce Department reported on Wednesday. The drop came as mortgage ... READ MORE >
Housing starts and permits spike in May as sentiment improves
Housing starts and permits came in much stronger than expected in May as the housing market continued to improve off its low in 2022. The upside surprise raises our forecast for gross domestic product in the second quarter from a 1.5% increase to 1.8%. There were 1.6 million new housing ... READ MORE >
Jobless claims and housing starts come in hotter than expected
Jobless claims and housing starts blew past forecasts in the most recent reports released Thursday, both showing stronger-than-expected results amid a looming economic downturn. New jobless claims fell by 20,000 last week to 192,000 following an unexpected spike in the previous week, ... READ MORE >
Housing starts fell last year for the first time since 2009
The housing market continued to show little sign of reaching a bottom in December as housing starts and permits fell again to cap off the first year of decline since 2009. Housing starts dropped by 1.4% on an annualized month-ago basis, while building permits fell by 1.6%. For all of last year, housing ... READ MORE >
Housing starts and permits fall as the correction continues
Housing starts dropped for the third month in a row in November as the housing market continued to be in correction mode, the Commerce Department reported on Tuesday. There were 1.4 million residential starts on an annualized basis, falling short of the 1.7 million that we estimate are needed to meet ... READ MORE >