| The KUIK Morning Market Report for Tuesday, June 16: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 51 | points | 17,844 | 6:53 AM | ||
| S&P500 | Up | 0.14% | percent | 2,087 | 2.97 | ||
| Nasdaq Composite | Up | 0.03% | percent | 5,031 | 1.29 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.08 | Annual Yield | ||
| Construction starts on new U.S. homes fell 11.1% to 1.04 million annually in May, down from a surge in April, which saw the fastest starts pace since late 2007, according to the Commerce Department. Starts for single-family homes fell 5.4% to an annual rate of 680,000, while starts for apartment fell 18.5% to 349,000. Economists expected an overall May starts rate of 1.08 million.The average starts rate was about 1.5 million over the 20 years leading up to the housing bubble’s 2006 peak. | |||||||
| Corelogic reports 254,000 properties regained equity in the first quarter. The total number of mortgaged residential properties that have negative equity is now at 5.1 million, or 10.2% of all mortgaged properties, down from 10.8% in the fourth quarter and 12.9% in the first quarter of 2014. Negative equity occurs when borrowers more on their mortgages than their homes are worth. The national aggregate value of negative equity was $337.4 billion at the end of the first quarter. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-housing-starts-drop-111-in-may-to-104-million-annual-rate-2015-06-16 | |||||||
| http://www.marketwatch.com/story/quarter-of-a-million-homes-regain-equity-in-first-quarter-2015-06-16 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||