With homebuilder confidence collapsing - especially expectations of future sales - housing starts and permits were expected to slide in September but the results were mixed...

US Housing starts plunged 8.1% MoM in September (worse than the -7.2% expected), but the forward-looking permits unexpectedly rose 1.4% MoM (-0.8% MoM exp) and August was revised to a slightly smaller drop.

On a SAAR basis, starts and permits continue their broad trend lower (with a tiny uptick in permits)...