Building permits unexpectedly slip in March

|By:, SA News Editor

March housing starts of 946K were 5.9% higher than a year ago and compare to 920K in February (revised from 907K). Single-family starts of 635K were up 6% from February.

The market seems focused on permits, which fell to 990K from February's 1.014M. On a Y/Y basis, though, permits gained 11.2%.

The 10-year Treasury yield dips two basis points to 2.64%.

Homebuilder ETFs ITB and XHB show no trades premarket.

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