Tuesday, October 19, 2010

The Commerce Department reported earlier this morning that housing starts unexpectedly rose in September to a five-month high, but permits for future home construction fell 5.6% -- driven by a sharp decline in permit filings for multi-family construction. This data had little impact on mortgage investors expectations the Fed will launch another round of economic stimulus at the conclusion of their upcoming two-day Open Market Committee meeting on November 2nd and 3rd.