Housing slip

Mortgage and Lending with Southwest Funding

Housing Starts slipped in May, falling 2.1% to land at 1.474 million (annualized) units started, with Western markets providing the greatest drag during the month. Unsurprisingly, single-family starts slumped by 3.4%, but initiation of construction for 5-plus-unit multi-family dwellings helped provide some support. Broadly, housing starts have been holding fairly steady for the past four months, even as the mix of properties providing that stability has changed. Building Permits managed a gain of 3%, rising to a 1.501 million rate, suggesting that stability may continue as we roll forward in 2007.

DFW Loan Offficer

Jeff Schraeder

Imperial Mortgage