Mortgage Market Commentary February 16, 2012

Calming language from Greece is not having the desired effect and the latest bail-out remains stalled. The European lenders have delayed their decision on handing over the money until Monday.

 

Today’s report on U.S. housing starts shows construction of apartments more than made up for a M/M decline in starts of single-family homes. There were 699,000 seasonally adjusted home starts in January; a 1.5% increase from December and the highest level since October 2008.

 

In Canada the report on December manufacturing sales shows an advance of 0.6% M/M. The 5^th increase in 6 months was led by the transportation equipment industry. Durable goods sales rose 2.1% while non-durables fell 0.9%.

 

Tomorrow, both the Canadian and American January CPI figures are out.