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IPFS News Link • Housing

Housing Starts Dive 18.7 Percent: Mortgage Rates Soar

• https://mishtalk.com, by mishgea

New Residential Construction Details

Permits down 4.7% from October

Permits down 6.6% from year ago

Starts down 18.7% from October

Starts down 6.9% from year ago

Completions up 15.4% in October

Completions up 25% from year ago

Mortgage rates have risen 104 basis points (1.04 percentage points) since July 8.

As I have pointed out, this is bound to affect the housing market sooner or later. Sooner means now.

Each quarter-point hike will affect mortgage rates correspondingly until the long end of the curve refuses to rise further. At that point, we will be in recession.

Still think three hikes are coming in 2017?