BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, Housing Starts in October were 1.23 million, matching forecasts. In addition, Building Permits were 1.26 million, also in line with expectations. Housing Starts were driven by an increase in the South and multifamily homes. Affordability remains an issue, as mortgage rates are now near 5% for a thirty year loan. However, higher wage growth amidst a firm labor market is giving consumers some ability to handle it. Markets remain volatile as investors are focused on concerns over trade and weakness in certain technology companies that were higher earlier in the year. In all, equity futures are lower heading into the market open. We wish everyone a safe and Happy Thanksgiving!
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.
