Economic Week in Review

WEEK-IN-REVIEW

The NAHB housing market index rose 3 points to 64 in October, its highest level in nearly a decade. The strong gain and high score signals optimistic homebuilder sentiment which translates to a positive outlook for new single family home construction and sales over the next 6 months. Housing starts increased a better-than-expected 6.5% in September. The MBA mortgage applications index rose 11.8% for the week that ended October 16. The purchase index surged 16.4% on the week as the refinance index shot up 8.8%! [Read full Economic Week In Review here]

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