Rate Update 2008-08-19: Housing Starts Today

By:: Bill Rice - MortgageLoan.com

Expect a brief early panic as housing starts are expected to be off on a 10% decline. However, several known factors will remind the market there are compensating factors. Most notable was adjustments in New York construction codes that surged multi-family housing starts in June, bumping starts nearly a net 13%, versus what would have been a 4% decline in June. By the end of the trading day expect rates to settle near flat.

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National Rates

Loan Type	Today	+/-
30 yr fixed	3.80
15 yr fixed	3.10
5/1 ARM	2.73

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