Industry News
Mortgage Industry News
Housing Starts Jump 11%
09/21/2010
This morning, August Housing Starts rose 11% to an annual rate of 598K units, above the consensus forecast of 550K, and the highest level since April. Building Permits, a leading indicator, rose 2%, also beating expectations. The Dow is down 10 points. No more economic data will be released today. The Fed announcement will come out around 2:15 et. No change in the fed funds rate is expected. Recent comments have indicated that the Fed will take further stimulative action only if the economy deteriorates significantly, and the economy has been relatively stable since the last meeting. As a result, investors are mostly expecting little change in today’s Fed statement.
