Housing construction increased in September to the highest level in seven months according to the Commerce Department's most recent data. Construction of new homes and apartments rose by 3.4 percent last month to a seasonally adjusted annual rate of 2.11 million units, the fastest pace since last February. Analysts had been forecasting that housing construction would decline by 1.7 percent in September, believing that increases in mortgage rates would finally start to cool the red-hot housing market. We will soon find out if September was one last hurrah or if the party continues. New Residential Construction data for October 2005 will be released on Thursday, November 17, 2005, at 8:30 A. M. EST. Previously we reported The party is over in Boston but optimism still abounds in many market. City by city the party light will go out but the name of the game right now seems to be 'Build or Die'.Following is the Weekly Mortgage Applications Survey for the week ending October 21.
Following are a few charts of interest for February 27, 2007.Click on any chart for a better view. NYSE Declining VolumeNYSE Advancing VolumeNYSE Declining IssuesNYSE Advancing Issues$Nasdaq Declining Volume$Nasdaq Advancing VolumeNasdaq Declining IssuesNasdaq Advancing IssuesVIXVXN BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any acti...
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