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Housing Starts Show Improvement

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After going through a slowdown late last year and following a disappointing spring buying season, the housing sector has come back strong this summer.

Housing Starts, a report measuring the number of new residential construction projects started during any particular month, surged in July by nearly 16 percent to an annual rate of 1.093 million, above expectations and up from the 945,000 in June. Building Permits, a sign of future construction, also came in above expectations while Existing Home Sales for July increased by 2.4 percent from June.

Additionally, the National Association of Home Builders Housing Market Index, a measure of builder confidence, rose two points to 55 in August from the 53 recorded in July. This was the third straight monthly gain and brings the index to its highest level since last January. As a rule, 50 is the line between positive and negative sentiment, and a statistic economists use to judge when the housing sector is strong.

Finally, in spite of signs earlier this summer that inflation may be heating up, the latest reports show that inflation at the consumer level remains tame. This is good news for Bonds, as inflation reduces the value of fixed investments like Bonds. And since home loan rates are tied to Mortgage Bonds, tame inflation is typically a positive sign for home loan rates as well.

The good news is that home loan rates remain attractive compared to historical levels, and now is a great time to consider a home purchase or refinance. As always, please let me know if you have any questions!

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INSIDE THE LIFESTYLE SQUEEZE OF TINY HOMES

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Source: CNBC

As the tiny home movement sweeps the nation, potential adopters of this “living tiny” lifestyle might need to seriously consider whether it suits their personalities, as there are challenges to living small. This includes having very few possessions, a zero-tolerance policy for clutter, and not being able to invite many guests over to visit.
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MOST AMERICANS STILL WANT MORE OPTIONS TO BUY A HOME

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Source: The Atlantic

Frustrated with rental stress, Americans are largely holding out to buy homes, according to respondents in the Atlantic Media/Siemens State of the City poll. Half or more of respondents answered that it was somewhat or very difficult to “find rental housing where you live that is affordable and of good quality.” However, relatively few people think that adding more rental units would be helpful because respondents were much more likely to answer that they’d be better served by an increase in the number of houses to buy.
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