Housing Starts Slide in May, But Single-Family Holds Steady

The latest Residential Construction report from the Census Bureau showed a noticeable drop in overall housing starts in May, though single-family activity managed a small gain. Building permits also declined, continuing a trend of slight cooling in new construction momentum. As usual, the market focuses most on building permits and housing starts , with the latter representing the beginning of actual construction activity. Total starts fell nearly 10% to an annual pace of 1.256 million , down from 1.392 million in April. The decline was almost entirely due to a sharp drop in multifamily starts , which fell from 420k to 316k , the lowest level in over a year. In contrast, single-family starts edged up slightly to 924k from 920k . Building permits—a forward-looking indicator—also declined, dropping 2% from 1.422 million to 1.393 million . That included a 2.7% decline in single-family permits and a moderate slowdown in multifamily authorizations.

June 20, 2025 Download our Mobile App: Download our Mobile App: Housing News Housing Starts Slide in May, But Single-Family Holds Steady The latest Residential Construction report from the Census Bureau showed a noticeable drop in overall housing starts in May, though single-family activity managed a small gain. Building permits also declined, continuing a trend of slight cooling in n... (read more) Housing News Mortgage Applications Slip Despite Lower Rates Mortgage application activity declined modestly last week despite a drop in rates, according to the Mortgage Bankers Association’s (MBA) latest survey. The Composite Index fell 2.6% on a seasonally adjusted basis for the week ending June 13, with bot... (read more) Mortgage Rate Watch Mortgage Rates Hold Steady With Thursday being a federal holiday, banks (and more importantly, the underlying market for mortgage related bonds) were closed. This means that lenders were not able to update mortgage rates. It turns out that it wouldn't have mattered... (read more) MBS Commentary Unofficial 4 Day Weekend Much like the Friday after Thanksgiving, we have to wonder what the point is of a trading session without any neighbors (there's actually some guiding principle in setting holiday closures that there should not ever be more than 2 consecutive weekday... (read more) Rob Chrisman Digital HELOC, Appraisal Review Products; Background AI; Hurricane Season is Here; Rates Holding Steady Happy Summer Solstice, and happy 50th birthday to the movie Jaws. Back then, for security, all we had to remember was where we hid our house key, or the combo to the lock on our school locker. Now, our dozens of logins and passwords are regularly eit... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.86% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.86% -0.01 0.00 15 Yr. Fixed 6.12% -0.01 0.00 30 Yr. FHA 6.41% 0.00 0.00 30 Yr. Jumbo 6.95% 0.00 0.00 7/6 SOFR ARM 6.44% +0.02 0.00 30 Yr. VA 6.42% 0.00 0.00 Updates Daily - Last Update: 6/20 15 Yr. Fixed Rate 6.12% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.81% -0.03 0.00 15 Yr. Fixed 5.96% -0.01 0.00 Updates Weekly - Last Update: 6/18 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% -0.09 0.66 15 Yr. Fixed 6.14% -0.02 0.70 30 Yr. Jumbo 6.81% -0.12 0.63 Updates Weekly - Last Update: 6/18 MBS / Treasuries UMBS 30YR 5.5 99.17 +0.11 Price / Yield Change MBS UMBS 5.5 99.17 +0.11 UMBS 6.0 101.11 +0.09 GNMA 5.5 99.41 +0.19 GNMA 6.0 101.02 +0.25 Pricing as of: 6/20 5:31PM EST 10 Year US Treasury 4.3776 -0.0143 Price / Yield Change US Treasury 2 YR Treasury 3.908 -0.037 5 YR Treasury 3.962 -0.029 7 YR Treasury 4.155 -0.024 10 YR Treasury 4.378 -0.014 30 YR Treasury 4.891 +0.001 Pricing as of: 6/20 5:31PM EST Latest Video Fed Governor Waller: Fed could cut rates as early as July Powell: Best way to help housing is restoring price stability and supportin... Watch CNBC's full interview with Federal Reserve Governor Christopher Walle... The Fed's hand will be held 'for quite a while' before contemplating rate c... Around the Web CNBC Fed Governor Waller says central bank could cut rates as early as July Calculated Risk Blog California Home Sales "Sputter" in May; 4th Look at Local Markets Reuters Still early to assess tariff impact on economy, Fed report says CNBC Fed sees its preferred inflation gauge topping 3% this year, higher than previous forecast CNBC Fed leaves rates unchanged, as expected Calculated Risk Blog Q2 GDP Tracking: Wide Range CNBC Mortgage demand drops, even as rates fall to the lowest since April Eye on Housing Single-family Construction Loan Volume Grows CNBC U.S. Treasury yields little changed as Trump considers strike on Iran Eye on Housing Sharp Drop in Multifamily Production Brings Overall Housing Starts Down Forex Live US May housing starts 1.256m vs 1.357m expected Market Watch Jobless claims move lower, easing some concerns about labor market health CNBC U.S. oil prices hold near five-month high as Trump weighs Iran attack

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