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Many Americans have been holding back from jumping into the housing market in the hopes that mortgage rates will decline. The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. “Sixes are the new normal,” said Lisa Sturtevant, chief economist at Bright MLS, a mortgage listing services group, referring to 6% mortgage rates. It’s really not going to be impacting mortgage rates at all.”Mortgage rates work differently. When demand for those increases, mortgage rates tend to fall.

Persons: Donald Trump’s, ”, Lisa Sturtevant, Brian Rehling, Trump, Mike Fratantoni, ” Fratantoni, Helene, ” Samuel Tombs, Tombs, Sturtevant, “ It’s Organizations: Federal, Bright MLS, Federal Reserve, Wells, Investment Institute, ”, U.S, Mortgage, Association, “, National Association of Realtors, Pantheon, NBC

☆ U.S. economy added just 12,000 jobs in October, impacted by hurricanes, Boeing strike
▼ + stars: | 2024-11-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Nonfarm payrolls increased by 12,000 for the month, down sharply from September and below the Dow Jones estimate for 100,000, the Bureau of Labor Statistics reported Friday. In what had already been expected to be a downbeat report, October posted the smallest gain since December 2020. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons also was unchanged at 7.7%. In the report narrative, the BLS noted that the Boeing strike likely subtracted 44,000 jobs in the manufacturing sector, which lost 46,000 positions overall. The meager jobs numbers along with wages about in line with expectations help cement another interest rate cut from the Federal Reserve next week.

Persons: Nonfarm, Dow Jones, Helene, Milton, Cory Stahle, Kamala Harris, Republican Donald Trump, Lisa Sturtevant Organizations: of Labor Statistics, BLS, Boeing, Federal Reserve, Republican, Bright MLS Locations: U.S

☆ Mortgage rates plunge to lowest level in more than a year
▼ + stars: | 2024-08-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant Freddie Mac said Thursday. Mortgage rates have steadily fallen over the past several weeks since reaching a 2024 peak of 7.22% in early May. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on interest rates. Lower mortgage rates and a bigger housing stock will eventually entice more buyers to eventually enter the market.

Persons: Freddie Mac, That’s, ”, Sam Khater, Freddie Mac’s, “ Homebuyers, ” Lawrence Yun, Lisa Sturtevant, “ Organizations: Washington CNN, Federal Reserve, Las, P Global, Harvard Joint Center for Housing Studies, CNN, Treasury, National Association of Realtors, Fed, NAR, “, Bright MLS Locations: New York, San Diego, Las Vegas, Tampa, Denver, Minneapolis, United States

☆ 10 states with the biggest Biden infrastructure funding include key battlegrounds
▼ + stars: | 2024-05-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersThe Biden administration has announced $537 billion in infrastructure investments since the passage of landmark government funding bills, such as the Bipartisan Infrastructure Law, CHIPS Act and the Inflation Reduction Act. New state-by-state White House data released Monday offers a holistic portrait of how President Joe Biden has so far doled out that funding across the country. Several of the biggest awards went to battleground states that will be pivotal to the 2024 presidential election. US President Joe Biden visits the John A. Blatnik Memorial Bridge in Superior, Wisconsin, on January 25, 2024.

Persons: Joe Biden, Kevin Lamarque, Biden, Natalie Quillian, Mandel Ngan, Donald Trump, John A, Saul Loeb Organizations: Gateway Technical College, Reuters, Infrastructure Law, White, House, AFP, Getty Images, Trump, Commerce Department, Treasury Department, Federal Communications Commission, Law, Getty Locations: Sturtevant , Wisconsin, U.S, California, Texas, York, Florida, Pennsylvania, Illinois, Arizona, Maryland, Ohio, Michigan, Fern, Pittsburgh , Pennsylvania, Getty Images Pennsylvania, . Georgia, Superior , Wisconsin

☆ New Biden tariffs on China's EVs, solar, medical supplies reportedly due Tuesday
▼ + stars: | 2024-05-11 | by ( ) www.cnbc.com time to read: +1 min

But it will also add new tariffs to semiconductors and solar equipment, according to one of the people, as well as hiking EV tariffs. Chinese-made medical supplies like syringes and personal protective equipment also face additional tariffs, sources told Reuters. The long-awaited tariff update comes after a number of lawmakers have called for massive hikes on Chinese vehicle tariffs. Tariffs on Chinese EVs will roughly quadruple under the new Biden plan, the Wall Street Journal reported, citing people familiar with the matter. Senate Banking Committee Chairman Sherrod Brown wants the Biden administration to ban Chinese EVs outright, over concerns they pose risks to Americans' personal data.

Persons: Joe Biden, Donald Trump, Biden, Sherrod Brown Organizations: Gateway Technical College, Reuters, Wall Street Journal, U.S . Trade Locations: Sturtevant , Wisconsin, U.S, China

☆ House committee asks Microsoft's Brad Smith to attend hearing on security lapses
▼ + stars: | 2024-05-10 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Brad Smith, vice chair and president of Microsoft, speaks at Gateway Technical College in Sturtevant, Wisconsin, on May 8, 2024. A House committee wants Microsoft 's top lawyer, Brad Smith, to attend a hearing this month on exploits of the company's software that resulted in hackers obtaining U.S. government officials' emails. A proposed hearing before the House Committee on Homeland Security, at 10 a.m. But Smith might not necessarily show up at the time the committee asked about in a letter it sent him on Thursday. Committee chairman Mark Green, R-Tenn., and Bennie Thompson, D-Miss., said in their letter inviting Smith to the hearing that they were encouraged by the company's plans to overhaul its security practices.

Persons: Brad Smith, Gina Raimondo, Don Bacon, Nicholas Burns, Smith, We're, Satya Nadella, Charlie Bell, Mark Green, Bennie Thompson, Green, Thompson, Chris Krebs Organizations: Microsoft, Gateway Technical College, Homeland Security, Rep, CNBC Locations: Sturtevant , Wisconsin, Washington, U.S, China

☆ Live updates: Israel-Hamas war, looming Rafah invasion, Gaza devastation
▼ + stars: | 2024-05-09 | by ( Helen Regan | ) edition.cnn.com time to read: +1 min

Joe Biden delivers remarks on May 8, in Sturtevant, Wis. on May 8. (AP Photo/Evan Vucci) Evan Vucci/APPresident Joe Biden said he would halt some shipments of US weapons to Israel if Prime Minister Benjamin Netanyahu orders a major invasion of the city of Rafah. “Civilians have been killed in Gaza as a consequence of those bombs and other ways in which they go after population centers,” Biden told CNN’s Erin Burnett in an exclusive interview, referring to 2,000-pound bombs that Biden paused shipments of last week. Biden's comments echo global alarm mounting over Israel's moves in Rafah, where more than 1 million Palestinians have fled and Hamas is believed to have regrouped after Israel’s destruction of much of the strip’s north. The Israeli military's operation in Rafah has expanded from airstrikes to ground operations, which include bulldozing, new satellite imagery obtained by CNN from Planet Labs shows.

Persons: Joe Biden, Evan Vucci, Benjamin Netanyahu, ” Biden, CNN’s Erin Burnett Organizations: Biden, CNN, Planet Labs Locations: Sturtevant, Wis, Israel, Rafah, Gaza, Israeli

☆ Biden says U.S. won’t supply weapons for Israel to attack Rafah, in warning to ally
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +10 min

Biden has said that Israel needs to do far more to protect the lives of civilians in Gaza. "We're going to continue to do what's necessary to ensure that Israel has the means to defend itself," Austin said. "But that said, we are currently reviewing some near-term security assistance shipments in the context of unfolding events in Rafah." A decision against Israel would further add to pressure on Biden to curb the flow of weapons and money to Israel's military. "Over the years, the United States has provided tens of billions of dollars in military aid to Israel.

Persons: Joe Biden, Kevin Lamarque, Biden, Israel, we're, Benjamin Netanyahu's, Ali Jadallah, Lloyd Austin, Austin, Menahem Kahana, Gilad Erdan, Mike Johnson, Mitch McConnell, Sen, Lindsey Graham, Bernie Sanders of, Sanders, Netanyahu, Hatem Khaled, Itamar Yaar Organizations: Gateway Technical College, Reuters, Hamas, CNN, Israel, Anadolu, Getty Images, Biden, White House National Security, Palestinian Hamas, Afp, Getty, United Nations, Congress, Republican, Republicans, Austin, Reuters Privately, The State Department, Israel's National Security Council, Islamic State Locations: Sturtevant , Wisconsin, U.S, Israel, Rafah, Gaza, I'm, Palestinian, Bernie Sanders of Vermont, United States, Egypt

☆ Mortgage rates drop after climbing for four weeks
▼ + stars: | 2024-03-07 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates ticked down slightly this week, a tiny boon to buyers eager to make a move with newly listed homes coming to market. The 30-year fixed-rate mortgage averaged 6.88% in the week ending March 7, down from 6.94% the previous week, according to data from Freddie Mac released Thursday. While mortgage rates are expected to fall further in 2024, Sturtevant added, short-term movements in mortgage rates will likely be influenced by congressional testimony given this week by Federal Reserve Chair Jerome Powell. During his semiannual monetary report to Congress, he indicated there is no rush to cut interest rates with more evidence of cooling inflation. The February jobs report, which will be released Friday, is also likely to have some bearing on mortgage rates.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, homebuyers, Khater, Redfin, Lisa Sturtevant, ” Sturtevant, Sturtevant, Jerome Powell Organizations: DC CNN —, Mortgage, Association, Federal Housing Administration, Redfin, MLS, Bright MLS, Federal, Congress Locations: Washington

The housing market began 2024 in the doldrums as housing starts and permits for new construction both fell, the Census Bureau reported on Friday. Starts fell 14.8%, way more than the flat reading expected by economists. “High mortgage rates, with maybe a dash of cold weather, caused starts and permits to fall from December. The optimism is a turnaround from August 2023, when 80% of small businesses surveyed said their long-term financial confidence was being negatively affected by the economy. Some 50% of small business owners said they were planning to expand in 2024.

Persons: didn’t, ”, Robert Frick, Lisa Sturtevant, Ksenia Potapov, “, they’re, Bill Dunkelberg Organizations: Census, Navy Federal Credit Union, MLS, “, National Federation of Independent Business, American Express Locations: American

☆ Mortgage rates rise for the second week, reaching 6.77%
▼ + stars: | 2024-02-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —After treading water for months, US mortgage rates jumped higher Thursday following a string of strong employment and inflation reports. “On the heels of consumer prices rising more than expected, mortgage rates increased this week,” said Sam Khater, Freddie Mac’s chief economist. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The addition of needed inventory and the prospect of lower mortgage rates this year may spur buyers to jump into the market. “This spring, buyers are likely to see lower mortgage rates than in the fall of 2023, which may mean more eager buyers in the market,” Jones said.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit, Broeksmit, Jerome Powell, Hanna Jones, who’ve, Lisa Sturtevant, Jones, Alicia Huey, ” Jones Organizations: DC CNN, “, Mortgage Bankers Association, Labor Department, Federal Reserve, Realtor.com, National Association of Home Builders Locations: Washington, ”

☆ Home sales in 2023 were the lowest in nearly 30 years, but prices still hit a record
▼ + stars: | 2024-01-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —The residential real estate market tumbled in 2023, as soaring interest rates steadily slowed sales activity — but home prices still hit a record high. Even with all the disruptions of the onset of the pandemic, sales in 2020 ended at about 5.5 million. The next year, sales soared to over 6 million amid the frenzied market as mortgage rates sank in 2021. As mortgage rates hit 7.79% in October 2023, the highest in 23 years, sales sank again, to about 4 million. If there had been more listings on the market in 2023, we would have had more home sales.”

Persons: Lawrence Yun, ”, Yun, Lisa Sturtevant Organizations: DC CNN, National Association of Realtors, “, ”, Federal Reserve Locations: Washington, homeownership, —

☆ Mortgage rates drop to lowest level since May
▼ + stars: | 2024-01-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —After moving higher the past two weeks, mortgage rates fell this week, dropping to the their lowest level since May 2023. Mortgage rates remain more than a full percentage point lower than their highest levels of last year: 7.79%. However, he added, as more buyers come in off the sidelines attracted by lower rates, more pressure will be placed on already depleted inventory for sale. “In some markets, however, prices will rise much faster this year.”Still, lower rates can improve affordability by reducing the costs of financing a home. “On a loan to purchase a $400,000 home, a one percentage point decrease in mortgage rates can lead to a $250 drop in the typical monthly payment,” Sturtevant said.

Persons: Freddie Mac, who’ve, ”, Sam Khater, Freddie Mac’s, Lisa Sturtevant, Sturtevant, ” Sturtevant Organizations: DC CNN, “, homebuyers Locations: Washington, DC

☆ Renters are being hit harder by inflation than homeowners are
▼ + stars: | 2024-01-12 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Renters and homeowners experience inflation differently; and right now, renters are taking a much more painful hit. While shelter inflation has come down over the past few months, in December, the shelter index was still 6.2% higher year over year. Inflation divide between renters and homeownersTwo things are driving the divide between how homeowners and renters experience inflation. And 64% of homeowners have a mortgage rate of 4% or lower — more than two and a half percentage points lower than prevailing rates. Even if the typical mortgage payment is higher than a typical monthly rent payment, renters’ incomes tend to be lower than homeowners.

Persons: “, Lisa Sturtevant, Danielle Hale, Realtor.com, ”, Hale Organizations: DC CNN, Bright MLS, Bank of America Institute, BLS, “ Locations: Washington

☆ Inflation slowed to a 3.1% annual rate in November
▼ + stars: | 2023-12-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

While the monthly rate indicated a pickup from the flat CPI reading in October, the annual rate showed another decline after hitting 3.2% a month earlier. The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday . Economists surveyed by Dow Jones had been looking for no gain and a yearly rate of 3.1%. Food prices increased 0.2%, boosted by a 0.4% jump in food away from home. On an annual basis, food rose 2.9% while energy was down 5.4%.

Persons: Dow Jones, Liz Ann Sonders, Charles Schwab, Lisa Sturtevant Organizations: Labor Department, Federal Reserve, Treasury, Bright MLS, Fed, CNBC Fed Survey, CNBC PRO

Consumers grew somewhat more optimistic about the future of the economy in November as expectations about inflation improved, but their sense of the current state of affairs worsened a bit. Still, two-thirds of consumers surveyed still expect a recession to be “somewhat” or “very likely” within the next 12 months. However, that is well above current inflation of 3.2% and forecasts from the Federal Reserve and mainstream economists. In the peak hour from 10 p.m. to 11 p.m. EST, consumers spent $15.7 million a minute, according to online analytics firm Adobe. One thing that might make some consumers happy is that home prices continued to increase in September.

Persons: ”, Dana Peterson, ” Peterson, Jeffrey Roach, Craig J, Lazzara, Lisa Sturtevant Organizations: Conference, Federal Reserve, LPL, “, Adobe, MLS Locations: Detroit, San Diego

New home sales fell 5.6% in October, worse than expected, as higher mortgage rates took a bite out of demand. The annual level of sales in October was 679,000, down from September’s substantially revised 719,000 pace, However, sales in October were still up 17.7% from a year ago. October saw a sharp increase in mortgage rates to around 8% for a 30-year fixed rate loan. However, the higher mortgage rates have slowed sales of new homes as well. The recent drop in mortgage rates, with more expected next year, could prove to be a tonic to the market.

Persons: ”, Kelly Mangold, Greg Logan, Lisa Sturtevant, ” “, ” Sturtevant Organizations: Census Bureau, Department of Housing, Urban Development, Builders, RCLCO Real Estate Consulting, MLS Locations: RCLCO, Southern, Northeast, Midwest

The pace of new construction quickened in October as both building permits and housing starts rose despite elevated mortgage rates, the government reported on Friday. New housing starts were 1.372 million compared to 1.346 million a month earlier. “A good inflation report and steadily declining mortgage rates provide some relief to the market. Also on a positive note, mortgage rates fell this week following the CPI and the resultant drop in bond yields from their recent highs. The 30-year fixed-rate mortgage fell to an average of 7.44% in the week ending Nov. 16, a drop from 7.5% a week earlier, Freddie Mac said on Thursday.

Persons: Wells, ”, Lisa Sturtevant, homebuyers, Freddie Mac, Odeta Kushi Organizations: Census Bureau, Department of Housing, Urban, National Association of Home Builders, MLS, homebuilders, ”, CPI, “ Builders, First Locations: Midwest, West

☆ Mortgage rates fall for third straight week, bringing some homeseekers off the sidelines
▼ + stars: | 2023-11-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Mortgage rates have cooled in recent weeks as markets absorbed the latest economic indicators, including an improving inflation picture. “For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding,” said Sam Khater, Freddie Mac’s chief economist. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “The gap between the 10-year Treasury yield and the 30-year fixed rate mortgage rate is historically around 180 basis points,” she said. “While the gap has narrowed somewhat, the 30-year mortgage rate remains 280 basis points higher than the bond yield.”By historical norms, she said, mortgage rates should be under 6.5%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Price, Jiayi Xu, Jerome, Powell, ” Xu, Bob Broeksmit, Lawrence Yun, ” Yun, “, Lisa Sturtevant, ” Sturtevant Organizations: DC CNN —, Mortgage, Association, Federal Reserve, Treasury, Consumer, “, National Association of Realtors, Bright MLS Locations: Washington

☆ Mortgage rates plummet by largest amount in a year
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates tumbled this week in the biggest one-week drop since last November. “Many consumers are feeling strained by the high cost of living, so unless mortgage rates decrease significantly, the housing market will remain stagnant.”The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. But while mortgage rates remain relatively high, the difference between rates now and what they were a year ago has narrowed, said Lisa Sturtevant, chief economist at Bright Multiple Listing Service. “We are in a new era for mortgage rates, where prospective homebuyers can expect rates to settle above 6%,” said Sturtevant.

Persons: It’s, Freddie Mac, ”, Sam Khater, Freddie Mac’s, Joel Kan, Jiayi Xu, Xu, Realtor.com, Lisa Sturtevant, Sturtevant Organizations: DC CNN —, “, Treasury, Mortgage, Association Locations: Washington

“So many more people have credit cards now.”Wise says the main thing to watch for is how strapped consumers are in their overall financial condition. There are signs the consumer may still have a little left in the tank. And speaking of tanks, gas prices have been coming down, a move that will free up a little more money for consumers to spend. And this occurred while consumers repeatedly tell surveys they are feeling gloomy and pessimistic about the state of the economy. The pace of increase in consumer prices has fallen from around 9% annually in the summer of 2022 to under 4% now.

Persons: ”, Donghoon Lee, “, TransUnion, TrasnUnion, Charlie Wise, ” Wise, we’ve, ” Patrick De Haan, De Haan, Lisa Sturtevant, Goldman Sachs, Jan Hatzius, Joseph Brusuelas, Tuan Nyugen Organizations: Federal Reserve Bank of New York, New York Fed, TransUnion, “, MLS, Federal, ” Goldman, Adobe Locations: U.S, California

The decline brought the average rate on a 30-year mortgage down to 7.76% from 7.79% last week, mortgage buyer Freddie Mac said Thursday. As mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans. The average rate on a 30-year home loan climbed above 6% in September 2022 and has remained above that threshold since. And higher yields on 10-year Treasurys tend to push up mortgage rates. The average rate was unchanged from last week at 7.03%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, it’s, Lisa Sturtevant, Bob Broeksmit Organizations: ANGELES, Treasury, U.S, Federal Reserve, Bright MLS, ”, Treasury Department, Mortgage, Association, “ Locations: U.S

Home prices rose 0.4% in August and at an annual rate of 2.6%, as low inventories buoyed prices even while mortgages hit the 7% level. The CoreLogic Case-Shiller index for the month found 12 of the 20 cities in the index saw higher prices in August from the year-ago period. home prices continued to rise in August 2023,” said Craig J. Lazzara, managing director at S&P DJI. “The year’s increase in mortgage rates has surely suppressed housing demand, but after years of very low rates, it seems to have suppressed supply even more. Political Cartoons on the Economy View All 604 Images“The affordability challenge is being exacerbated by persistently higher mortgage rates,” said Lisa Sturtevant, chief economist for Bright MLS.

Persons: ”, Craig J, Lazzara, ” Selma Hepp, Lisa Sturtevant, Hannah Jones, That’s, Rhys Williams, It’s, Venkat Balakrishnan, –, Dana Peterson, “, ” Peterson Organizations: Bright MLS, Federal Reserve, ”, Census Bureau, “, Realtor.com, Management, Fed, Conference Board, Hamas, Financial Group Locations: Chicago, New York, Detroit, Las Vegas, “, Israel

☆ Homebuilding bounced back in September
▼ + stars: | 2023-10-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US homebuilding bounced back in September, after dropping in August to the lowest levels since 2020 as mortgage rates climbed. Building permits dropped in September, falling 4.4% from August’s revised number to a seasonally adjusted annual rate of 1.473 million. “Builders continue constructing smaller homes using less land, and offering incentives, but to build our way out of the housing shortage we’ll need mortgage rates well below current levels,” he said. Homebuilders are becoming increasingly anxious about persistently high mortgage rates and cooling demand, she said. “To keep buyers interested, many builders have been offering upgrades or buying down mortgage rates,” she said.

Persons: US homebuilding, ”, Robert Frick, Lisa Sturtevant, “, Sturtevant Organizations: DC CNN, US, Housing, Census, Navy Federal Credit Union, “ Builders, Bright MLS Locations: Washington

The report reflects the uneasy state of new construction, with builders facing the strain of high mortgage rates and increased costs for building materials. “To keep buyers interested, many builders have been offering upgrades or buying down mortgage rates, but rising home prices coupled with mortgage rates approaching 8% means there will be fewer buyers in the market to entice,” Bright MLS Chief Economist Lisa Sturtevant said. It is the week’s second report on the state of the new housing market. On Tuesday, the National Association of Home Builders/Wells Fargo Housing Market Index revealed that builder confidence fell for the third consecutive month in October. "Today’s September housing starts report reflects the fragility of the real estate market,” said Travis Hodges, managing director at insurance broker VIU by HUB.

Persons: “, ”, Lisa Sturtevant, Alicia Huey, Travis Hodges Organizations: Census Bureau, Department of Housing, Urban Development, MLS, National Association of Home Builders, National Association of Realtors Locations: Wells Fargo, Birmingham , Alabama, Florida, California

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