Mortgage rates are driving the housing market. TransUnion predicts that average rates on 30-year mortgages could hit 5 percent by the end of 2019. Read more about the housing market on CNBC.

 

Housing starts weren’t as low as expected. Only one month of data, need to see more data before you can call a trend. Starts are only a fraction of the housing market. More importantly, prices are coming down with affects the banks’ mortgage books, so this will be a headwind.

It started higher than expected, but we definitely need more time to pass till we can call it a trend, plus prices are coming down with affects the banks’ mortgage books.