Salient to Investors:
Anika Khan at Wells Fargo Securities is optimistic about the housing recovery and sees construction picking up.
Morgan Stanley expects residential construction to rise 14 percent in 2013.
Jason Schenker at Prestige Economics said housing has huge upside potential for GDP and job creation and the only thing that’s going to drive the substantial improvement to the labor market that the Fed needs.
The average 30-yr fixed-rate mortgage was 3.63 percent last week versus 3.92 percent a year ago.
Harvard University’s Joint Center for Housing Studies said spending on remodeling in the 12 months through Sept. 30 may climb 20 percent from a year earlier.
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