Rate Update 2008-08-19: Housing Starts Today
- By:
- Bill Rice | Tue, 08/19/2008
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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 | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
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