Remember this is the first month that takes the impact of the latest big spike in rates - not good!

This is a disastrous print:

August's 629k SAAR was revised drastically lower to 585k and September printed 553k (SAAR) massively missing expectations of 625k (SAAR) - plunging to the weakest since Dec 2016...

That is a 13.2% collapse YoY - the biggest drop since May 2011