December jobs data continues to support lower mortgage rates
December jobs growth slowed to 50,000, keeping mortgage rates near 6% with steady and Trump’s MBS move supporting better spreads.
Housing Starts
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Housing starts fall to lowest point since 2020, led by a stall in the Sun Belt
Housing starts fell 7.8% year-over-year in October, led by steep declines in the Sunbelt and Mountain West regions.
Single-family construction is getting worse due to rates
Thanks to Fed policy, data on single-family construction is not improving; in fact, it is getting worse.
Rising mortgage rates zap builder confidence
The recent rise in mortgage rates, approaching 7.25%, has negatively affected builder sentiment. They need rates in the 6-6.5% range to grow.
The election is over, but mortgage rates have yet to change course
The trend line for mortgage rates has been the same for several weeks, even as some of the uncertainty tied to the election is fading.