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العالمتم الإعلان

US builders slow down as 7.4% mortgages bite

US housing starts fell 5.2% in September from August. The 30-year mortgage rate sits near 7.4%.

الحدث: 20 أكتوبر 2026
المصدر الأساسي: 20 أكتوبر 2026
نُشر هنا: 20 أكتوبر 2026 في 05:10 م UTC
اقرأ: 2 دقيقة

ماذا حدث

On 20 October the US Census Bureau said housing starts ran at a 1.221M annual pace in September. That is 5.2% below August and 7.4% below a year ago. Single-family starts were 859,000 at an annual pace, down 4.6% on the month.

لماذا يهمك

Expensive mortgages hit building. Per Freddie Mac, the average 30-year rate was 7.40% on 15 October, up from 6.27% a year ago. Weak building means fewer new homes, and for markets it is a sign high rates are cooling the economy. That feeds into views on the Fed, the dollar and stocks.

ماذا تتحقق منه وتراقبه

The next construction data comes out on 18 November. Watch Freddie Mac's weekly rate on Thursdays and the 10-year US Treasury yield: mortgages follow it.

Census Bureau release (PDF)

The numbers. Seasonally adjusted, starts ran at a 1.221M annual pace in September, against 1.288M in August and 1.319M a year ago. Building permits ran at 1.4M, 0.2% below August and 3% below a year ago. Single-family permits were 845,000, down 4% on the month.

A caveat. This data is noisy. The Census Bureau itself says the 5.2% monthly drop comes with a margin of error of plus or minus 11.8%. So one month alone cannot prove building fell. The trend over several months matters more. Per NAHB, the builders' association, single-family starts are down 4% year to date.

Why. Per Freddie Mac, the 30-year mortgage held at 7.40% for a second week. A year ago it was 6.27%. Investing.com reports builders point to pricier materials and diesel and to unsold homes that hold back new projects.

What next. Completions ran at 1.192M in September, 14% below a year ago. If few homes get started now, even fewer new homes arrive in a year or two. That keeps prices up and makes affordability a theme before the 3 November US elections.

حقائق مؤكدة

  • US housing starts in September: 1.221M annual pace, 5.2% below August (1.288M) and 7.4% below September 2025 (1.319M).[1]
  • Single-family starts: 859,000 annual pace, 4.6% below August (900,000).[1][3]
  • Building permits: 1.4M, 0.2% below August and 3% below a year ago. Single-family permits 845,000, down 4%.[1]
  • The margin of error on the monthly change in starts is plus or minus 11.8%.[1]
  • The average 30-year mortgage rate on 15 October was 7.40%, the same as a week earlier, against 6.27% a year ago.[2][4]
  • Single-family starts are down 4% year to date.[3]
  • The next release is due on 18 November 2026.[1]

التبعات

  • قراءتناHigh mortgage rates are holding back new home building in the US.
  • قراءتناFewer starts now means fewer new homes in a year or two.

لا يزال مجهولًا

  • Whether the September figures get revised: the Census Bureau often updates them in the next release.
  • When mortgage rates will come down.

من يتأثر

USA. Anyone watching Fed rates, the dollar and US stocks

المصادر

  1. U.S. Census Bureau, HUD: Monthly New Residential Construction, September 2026 20 أكتوبر 2026 · رسمي
  2. Freddie Mac: Primary Mortgage Market Survey 15 أكتوبر 2026 · رسمي
  3. NAHB Eye on Housing: Single-Family Starts Down as Affordability Challenges Persist 20 أكتوبر 2026 · إعلام
  4. Investing.com: Строительство жилья в США падает при ставке 7,40% 20 أكتوبر 2026 · إعلام
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