US Sept housing starts 1201K vs 1210K expected

US September housing starts

• Prior was 1282K (revised to 1268K)

• Housing starts -5.3% m/m

• Building permits 1241K vs 1275K exp

• Prior permits 1229K (revised to 1249K)

• Permits -0.6% m/m

Yesterday's survey of home builders showed a pickup in optimism but higher interest rates and rising building costs because of tariffs have been a major drag this year.