Archive for November, 2016

Housing starts surge to 9 year high

Thursday, November 17th, 2016

Early this morning, prior to 8:30 AM EST the 10 yr note unchanged and early trade in MBS prices +4 bps from yesterday’s close. Then came 8:30 and a lot of key data. Oct housing starts expected up 10.5% to 1168K jumped 25.5% to 1323K; Oct building permits expected -3.0% to 1190K, increased 0.5% to 1229K. Starts the strongest since Sept 2007. A 10.7% rise to an 869,000 rate for the report’s key component, single-family homes, that follows an 8.4% surge in September. Take a look a the rest of the positive numbers.

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