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Why Are There Only 80,000 New Homes Available In The US?

The Apartment Boom Is Officially Dead, But Single-Family Housing Is Holding Up


Today, housing starts fell more than anticipated, but the more important story in today’s report is that even though the apartment boom is dead, single-family permits are rising. The U.S. housing apartment boom ran into higher mortgage rates and more supply faster than anticipated, while single-family permits are still enjoying a world of sub-6% mortgage […]

Jobs Data Sends Mortgage Rates Higher

Today we got a jobs Friday hat trick! Better headline jobs were reported, with positive revisions and more robust wage growth, which caught bond traders off guard and sent bond yields and mortgage rates higher today. Now, we do have some quirky seasonality issues with this report, but as I have often stressed, don’t look at […]