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Housing construction increased in September to the highest...

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.

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