US Housing Starts and Building Permits disappointed in October with the former dropping 3.1% MoM (-1.5% exp) and -0.6% MoM (+0.7% exp) respectively. This is the second straight month of declines for both measures of housing activity...
Source: Bloomberg
That pulled the SAAR totals down to four month lows - hovering just above COVID lockdown levels...
Source: Bloomberg
As rate-cut expectations have fallen, so have homebuilders actions it seems...
Source: Bloomberg
But homebuilder 'hope' remains high...
Source: Bloomberg
With trump back in charge, how much will Powell and his pals really want to cut rates now?
