Waiting on the Fed

The Federal Reserve is meeting today. It looks very likely that the Fed will cut interest rates again.

This morning, we got news that housing starts rose to a 12-year high:

U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction increased, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market.

Housing starts jumped 12.3% to a seasonally adjusted annual rate of 1.364 million units last month, the highest level since June 2007, the Commerce Department said on Wednesday. Data for July was revised to show homebuilding falling to a pace of 1.215 million units, instead of decreasing at a rate of 1.191 million units as previously reported.

Posted by on September 18th, 2019 at 10:15 am


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