
Your 60-second money minute. Home Building Stalls
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With a CNBC your Money minute. I'm Jessica Edinger. The US Needs more homes and the home builders started building more single family homes in March. And it was good until it wasn't. Housing permits should not be down in the
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heart of the spring Market. That's CNBC's Diana Olich. This is where that rate effect, that
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uncertainty over the war is really hitting the builders. Diana explains rate effects. It's all about mortgage rates and it's what caused the home builders to apply for far fewer building permits in March than anyone expected. People were
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expecting this good spring. You had seen rates come down into the 5% range. There was a lot of optimism. We started March with the 30 year fixed at 5.99%. Then you get hit with the war. Rates go up. By the end of March, we were at 6.64%. And that's why building permits are just the opposite of starts. You have them down 7.9% on single family
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year over year. Fewer homes being built means fewer homes out there for would be buyers to choose from. And it can mean higher prices out there for what is for sale right when mortgage rate are back in the Sixes for a 30 year fixed rate home loan. Keep up on the housing market. @cnbc.com I'm Jessica Edinger, CNBC
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Host: Jessica Edinger, CNBC
Date: May 19, 2026
Duration: 1 minute
Main Theme:
An analysis of the surprising stall in U.S. home building during the usually active spring market, focusing on the impact of rising mortgage rates and economic uncertainty on builders and homebuyers.
This quick episode addresses the recent downturn in single-family housing permits during a time that's typically robust for new builds. Jessica Edinger, with expert insight from CNBC's Diana Olick, explains how unexpected economic factors—especially in mortgage rates and global instability—are contributing to a slowdown in home construction, which may affect inventory and home prices.
Summary Note:
This succinct episode drives home the dynamic relationship between mortgage rates, builder confidence, and the volatility in home construction. Listeners are left with the key message: rising rates and global uncertainty have immediate consequences for the housing market, shaping what’s available—and affordable—for prospective buyers.
Further Information:
For ongoing housing trends and details, listeners are pointed to cnbc.com.