Housing starts were released this morning showing an increase of 57k (+10.5%) from July to August to a seasonally adjusted rate of 598k. This is a reasonable increase in starts but is still at a very low level, indicating housing remains in the doldrums.
The Fed is meeting today and will issue their FOMC statement at 2:15 p.m. ET. The running debate today is whether the Fed will embark on more quantitative easing. The recent bits of better economic data does give them some cover to delay action, but keep in mind we remain in uncharted territory, economically speaking.
Stock and bond markets put in a nice rally on Monday, and bond prices are improved again this morning. Mortgage prices are better by .125% to .250%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment