Housing Starts down but SFR Starts up.

MBA Mortgage Applications (week ended 10/14/2016)

– Purchase Index Week/Week +3.0%. Previous weeks were -3.0%, -0.1%, +1.0%, -7.0%, +9.0%, +1.0%, +1.0%, -0.3%, -4.0%, +3.0%, -2.0%, -3.0%, and -2.0%.
– Refinance Index Week/Week -1.0%. Previous weeks were -8.0%, +5.0%, -2.0%, -8.0%, +2.0%, +1.0%, +4.0%, -3.0%, +10.0%, -3.0%, -15.0%, -1.0%, and +11.0%.
– Composite Index Week/Week -0.6%. Previous weeks were -6.0%, +2.9%, -0.7%. -7.3%, +4.2%, +0.9%, +2.8%, -2.1%, +7.1%, -3.5%, -11.2%, and -1.3%.

 
Housing Starts (October 2016)

– Starts seasonally adjusted, annualized rate 1,047,000. Previous was 1,150,000
– Permits seasonally adjusted, annualized rate 1,225,000. Previous was 1,152,000

Single family starts were up 49,000. The drop in the total was due to the 159,000 drop in units started in buildings with 5 or more units.