The following US economic statistics were announced today:

Housing starts rose a worse-than-expected 2.3% in August to a 0.75 million annual rate, following July’s revised -2.8% drop. The August starts pace is up 29.1% on a year-ago basis.

The MBA reports mortgage applications fell -0.2% in the most recent week, with purchases down -4.0% and refinancings up 1.0%.

Existing home sales rose strongly in August, up 7.8% to an annual unit rate of 4.82 million. This is the second strong increase in a row, and is the highest since May 2010.

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Dale Franks
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