http://MikesDailyMarketReport.com: Housing Starts dropped 0.7% in October, as it's September data initially reported 1.555 million seasonally adjusted units to 1.530 million. Forecasts called for 1.576 million; however, it was reported at 1.520 million. Shortage of Labor and Materials still seem to be the issues for Home Builders. Yesterday, we saw surge in Home Builder Confidence, which you'll find in today's report, as Building Permits rose 4.0% in October. It went from 1.586 million in September to 1.650 in October. These will be future Housing Starts. Stocks are all in Negative Territory, as Investors seem to be a bit leery about the continued push to new highs; and next week begins the Holiday season with Thanksgiving. MBS started the morning lower, but has since steadily risen to +14bps; so, Mortgage Rates will be a little better priced today. Also, Yields have helped by their slide down to 1.60%.
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