The following US economic statistics were announced today:

November housing starts came in at a slightly les than expected 0.861 million pace, but building permits rose 3.6 percent to an annual pace of 0.899 million.

The MBA reports that higher interest rates made mortgage applications plunge -12.3% last week, with purchases down -5.0% and refinancings down -14.0%. An increase in mortgage rates caused the drop in activity.

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Dale Franks
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