Announced this morning, Housing Starts were 1,415,000 in September, an increase of 1.9% which is slightly less than expected. Building Permits were 1,553,000 in September, up 5.2%, which is higher than estimates. Overall, these figures indicate the housing market is maintaining its strength, especially with Building Permits, as we continue through the impact of COVID-19. With interest rates at extremely low levels, it promotes mortgage activity and accepting lines of credit for home projects. In addition, the housing market helps to support other industries, such as manufacturing which has exhibited strength in recent months as well. In all, with reports this morning of progress on another round of fiscal stimulus bond yields have ticked higher and equity futures are also higher as we head into the market open.
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