Aim high and that way even your worst will still be above average, right? That would be the theme of September?EUR??,,????'???s rates for new residential construction, which dropped an estimated 2.2%. However, the rate fell from the highest number of new housing starts on record in August, keeping numbers buoyant at the second highest rate on record. An estimated 1,860,000 homes were issued permits last month, down from the record 1,901,000 new housing units authorized in August. Consequently, 30-year mortgage rate averages soared back up to 6.44% in the beginning of September after a summer of record low rates. Although rates eventually lowered again to 5.98% by the end of the month, according to Freddie Mac, other factors such as autumn weather (including Hurricane Isabella), heralded the end of the summer housing frenzy. Single-family units authorized dropped 0.7% last month, and the rate of structures with five or more units authorized dropped 11.1%. Structures with two to four units saw a 7.1% rise in permits issued. However, these structures still constituted the smallest group of homes authorized, totaling a mere 90,000. Actual new housing starts rose 3.4% from August to 1,888,000, a second runner-up to July?EUR??,,????'???s high of 1,890,000 new homes started. The number of new houses completed rose 6.7% from August to 1,684,000, while the number of new homes still under construction at the end of September rose 1.5% to 1,112,000. With the onset of winter, new housing starts will most likely begin to wan on a national level. However, damages caused by Hurricane Isabella will inevitably lead to more building and repairs in the South. Seasonally Adjusted Rates New Privately-Owned Housing Units Authorized in Permit-Issuing Places Units Number in % Change % Change Thousands of Units from Aug ?EUR??,,????'???03 from Sept?EUR??,,????'???02 Total Homes 1860 -2.2 +3.2 1 Unit 1474 -0.7 +7.4 2-4 Units 90 +7.1 -1.1 5+ Units 296 -11.1 -12.9 New Privately-Owned Housing Units Authorized, but Not Started Units Number in % Change % Change Thousands of Units from Aug ?EUR??,,????'???03 from Sept ?EUR??,,????'???02 Total 178.1 -0.5 +26.4 1 Unit 114.4 -0.4 +24.3 2-4 Units 5.0 -12.8 +59.8 5+ Units 58.7 +0.5 +28.4 New Privately-Owned Housing Units Started Units Number in % Change % Change Thousands of Units from Aug ?EUR??,,????'???03 from Sept ?EUR??,,????'???02 Total 1888 +3.4 +4.3 New Privately-Owned Housing Units Under Construction at End of Period Units Number in % Change % Change Thousands of Units from Aug ?EUR??,,????'???03 from Sept ?EUR??,,????'???02 Total 1112 +1.5 +8.6 New Privately-Owned Housing Units Completed Units Number in % Change % Change Thousands of Units from Aug ?EUR??,,????'???03 from Sept ?EUR??,,????'???02 Total 1684 +6.7 +1.8