Updated on August 16, 2018 10:39:39 AM EDT
Julys Housing Starts was one of this morning’s two 8:30 AM ET economic releases. The Commerce Department announced a 0.9% rise in new home groundbreakings, falling well short of expectations. A downward revision to June’s starts means new home construction was weaker than in expected the last two months. While that is good news for bonds and mortgage rates, the report itself does not carry a high level of importance. Therefore, we haven’t seen a noticeable reaction to the news.