Market update: housing starts fall 6.5% in May

  • June 17, 2014

May’s housing starts fell 6.5% in May to a seasonally adjusted annual pace of 1 million units. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“Despite the monthly drop in housing starts, the trend has been upward and remains at a pace exceeding 1 million.  With the half percent drop in interest rates this year coupled with a modestly improving job environment, look for the coming months to show an improvement in the market numbers overall.”

If you would like to talk to someone at Quicken Loans about today’s report or anything in the mortgage market, please contact us.

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