Economic Statistics for 17 Oct 12
The following US economic statistics were announced today:
Housing starts in September advanced to a 0.872 million unit pace, topping market expectations and up 34.8% on a year-ago basis. Housing permits rose 11.6% to a 0.894 million annualized pace, which is up 45.1% from a year-ago.
The MBA reports mortgage applications fell –4.2% last week, as purchases rose 1.0% and refinancings fell 5.0%.
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Dale Franks
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Housing starts up during a term when mortgage apps and re-fi’s are DOWN?
Someone is trying to burn a project before year-end for tax considerations, not for market considerations.
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