SUMMARY: Housing starts and building permits underwhelm everywhere except in the South, mortgage demand falls double digits after two weeks of increases, and Megan Cassella argues in Barron's that Americans’ spending spree is making the Fed’s job tougher...

Sources:

• Housing Starts & Permits Underwhelm in April
• Mortgage Demand Falls Despite  a Slight Drop in Rates
• MEGAN CASELLA:  Americans’ Spending Spree Is Making the Fed’s Job That Much Tougher