Commenting on the housing market data released from the United States on Monday, “The NAHB homebuilder confidence index eased slightly to 70 in November from 71 in October,” noted ABN AMRO senior economist Bill Diviney. Key quotes “Housing has been one of the notable bright spots in the US economy over the past year, with homebuilder confidence back at elevated levels having declined significantly in late 2018. Anecdotal reports from the NAHB survey suggest a key driver has been the significant fall in mortgage rates, with the 30-year fixed rate having fallen more than 1pp since the end of last year to 4.0% as of November.” “This rise in confidence was finally reflected in the residential investment data for Q3, which showed 5.0% annualised growth following six consecutive quarters of contraction. We expect housing investment to continue recovering over the next few quarters, however labour market constraints are holding the sector back from growing more significantly.” “While the outlook for housing looks solid, this won’t provide much support for growth. As a share of GDP, housing investment is half the size it was back in the heady pre-crisis days, when it peaked at c.6% of GDP in 2005. Even in a very optimistic scenario of housing growing 10% annualised for the next few quarters (the fastest since 2013), it would add just 0.1pp to growth beyond what is in our baseline scenario (2.5%). While a stronger housing market is to be welcomed, then, it certainly cannot be relied upon to prevent the US economy slowing over the next few quarters.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index Technical Analysis: DXY starts the week on the back foot, trades below 97.80 level FX Street 3 years Commenting on the housing market data released from the United States on Monday, "The NAHB homebuilder confidence index eased slightly to 70 in November from 71 in October," noted ABN AMRO senior economist Bill Diviney. Key quotes "Housing has been one of the notable bright spots in the US economy over the past year, with homebuilder confidence back at elevated levels having declined significantly in late 2018. Anecdotal reports from the NAHB survey suggest a key driver has been the significant fall in mortgage rates, with the 30-year fixed rate having fallen more than 1pp since the end of last… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.