How is today’s housing starts data, which beat expectations, good for mortgage rates? Typically good economic data is bad for rates, especially in this environment, when a Fed member will come out and say building or buying homes is bad for fighting inflation. The answer is simple: The best way to fight inflation long-term is to add more supply.
Destroying demand is a short-term fix, but longer-term supply is the natural economic way. What we see in this latest starts report is encouraging, as a record number of 5-units are still in details ⇒
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