Is it possible that new home starts and new mortgage applications were up in February? The following is economic update info courtesy of one of my fave loan guys. The Commerce Department reported that housing starts unexpectedly jumped 22.2% in February to a seasonally adjusted annual rate of 583,000 units. This ended the longest streak of declines in 18 years. Economists had anticipated a 3.4% decline to 450,000 units. Leading the surge was an 82% increase in the building of multifamily homes - condominiums, apartments and townhouses - to 226,000 units in February from 124,000 in January. Housing starts for … (6 comments)
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