Housing Permits Up, Housing Starts Down
Housing Permits Up, Housing Starts Down
Housing Permits Up, Housing Starts Down
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November 17 2010 (Jeff Alan)
housing-activity-picture
Housing activity was a mixed bag in October with housing starts dropping while building permits increased from the September. The number of housing starts is the lowest since April 2009.

Housing starts dropped in October to a 519,000 annual rate, down 12 percent from the revised September estimate of 588,000, the Commerce Department reported Wednesday.

Construction on single-family homes declined 1.1 percent, while work on multifamily units fell 44 percent. Building permits, a sign of future activity, rose 0.5 percent to a 550,000 rate from 547,000 in September.

“Starts are a reminder of just how miserable the situation is in housing,” says Chris Low, chief economist at FTN Financial in New York. “Sales have been so weak for so long that we continue to see starts bouncing along the bottom.”

Economists surveyed by Reuters had anticipated a starts rate in October of 600,000 — far higher than the actual outcome.

There was one hopeful sign in the starts numbers, as inventories of completed but unsold homes fell to a record low 79,500, suggesting the drag from an overhang of unsold homes might be lightening.

Tags: housing, housing starts, single-family homes, multifamily dwellings, building permits, housing inventories

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Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
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See today's mortgage rates. Shop, compare and save.

November 17 2010 (Jeff Alan)
housing-activity-picture
Housing activity was a mixed bag in October with housing starts dropping while building permits increased from the September. The number of housing starts is the lowest since April 2009.

Housing starts dropped in October to a 519,000 annual rate, down 12 percent from the revised September estimate of 588,000, the Commerce Department reported Wednesday.

Construction on single-family homes declined 1.1 percent, while work on multifamily units fell 44 percent. Building permits, a sign of future activity, rose 0.5 percent to a 550,000 rate from 547,000 in September.

“Starts are a reminder of just how miserable the situation is in housing,” says Chris Low, chief economist at FTN Financial in New York. “Sales have been so weak for so long that we continue to see starts bouncing along the bottom.”

Economists surveyed by Reuters had anticipated a starts rate in October of 600,000 — far higher than the actual outcome.

There was one hopeful sign in the starts numbers, as inventories of completed but unsold homes fell to a record low 79,500, suggesting the drag from an overhang of unsold homes might be lightening.

Tags: housing, housing starts, single-family homes, multifamily dwellings, building permits, housing inventories

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

November 17 2010 (Jeff Alan)
housing-activity-picture
Housing activity was a mixed bag in October with housing starts dropping while building permits increased from the September. The number of housing starts is the lowest since April 2009.

Housing starts dropped in October to a 519,000 annual rate, down 12 percent from the revised September estimate of 588,000, the Commerce Department reported Wednesday.

Construction on single-family homes declined 1.1 percent, while work on multifamily units fell 44 percent. Building permits, a sign of future activity, rose 0.5 percent to a 550,000 rate from 547,000 in September.

“Starts are a reminder of just how miserable the situation is in housing,” says Chris Low, chief economist at FTN Financial in New York. “Sales have been so weak for so long that we continue to see starts bouncing along the bottom.”

Economists surveyed by Reuters had anticipated a starts rate in October of 600,000 — far higher than the actual outcome.

There was one hopeful sign in the starts numbers, as inventories of completed but unsold homes fell to a record low 79,500, suggesting the drag from an overhang of unsold homes might be lightening.

Tags: housing, housing starts, single-family homes, multifamily dwellings, building permits, housing inventories

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.