4/16/10

Rates suffered a little yesterday even though Jobless Claims came in higher than expected. Today had New Home Construction and will have the University of Michigan Sentiment Survey. Housing Starts for March were better than expected and March Building Permits were up as well. It is nice to see the economic activity associated with housing, but don’t we already have a pretty good inventory of existing housing stock in many locales? After these housing stats mortgage rates are steady this morning. Friday’s are always strange days.