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US single-family homebuilding rebounded in September, boosted by demand for new construction amid an acute housing shortage, but the highest mortgage rates in nearly 23 years could slow momentum and delay the overall housing market recovery.

That was flagged by other data on Wednesday showing applications for loans to purchase a home plunged last week to levels last seen in 1995. In addition, the jump in housing starts partially recouped the decline in August.

The rebound in homebuilding probably reflected permits approved several months ago before mortgage rates broke above 7%. A survey this week showed confidence among single-family homebuilders slumped to a nine-month low in October, with builders reporting lower levels of traffic.

“In the very short-term, single-family construction activity is likely to increase with permits rising in every month of 2023 thus far, but at some point mortgage rates are likely to put a lid on new construction activity for home purchase,” said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.

Single-family housing starts, which account for the bulk of homebuilding, increased 3.2% to a seasonally adjusted annual rate of 963,000 units last month, the Commerce Department said. Data for August was revised to show starts dropping to a rate of 933,000 units instead of 941,000 units as previously reported.

Single-family starts rose in the Midwest, West and the densely populated South, but plunged 19.0% in the Northeast.

The housing market had shown signs of stabilizing before mortgage rates resumed their upward trend late in the summer, with the rate on the popular 30-year fixed mortgage vaulting above 7% in August. According to the Mortgage Bankers Association, the average contract interest rate on a 30-year fixed-rate mortgage rose 3 basis points to 7.70% last week, the highest since November 2000.

Mortgage rates have risen in tandem with the yield on the benchmark 10-year Treasury note, which has spiked to more than a 16-year high, mostly because of expectations that the Federal Reserve will keep interest rates higher for longer in response to the economy’s resilience. Since March 2022, the central bank has raised its benchmark overnight interest rate by 525 basis points to the current 5.25%-5.50% range.

Residential investment has contracted for nine straight quarters, the longest such stretch since the housing market bubble burst, triggering the 2008 global financial crisis and the Great Recession. That downturn probably extended into the third quarter, though overall gross domestic product growth last quarter was likely the fastest since late 2021, thanks to a tight labor market that is underpinning consumer spending.

Stocks on Wall Street were trading lower amid mounting tensions in the Middle East. The dollar rose against a basket of currencies. U.S Treasury prices fell, with the yield on the 10-year bond rising to the highest level since July 2007.

Financial markets expect the Fed will leave rates unchanged at its Oct. 31-Nov. 1 policy meeting, according to CME Group’s FedWatch Tool, given the surge in Treasury yields.

Starts for housing projects with five units or more soared 17.1% to a rate of 383,000 units in September. Overall housing starts accelerated 7.0% to a rate of 1.358 million units in September. Economists polled by Reuters had forecast starts rebounding to a rate of 1.380 million units.

Permits for future construction of single-family homes rose 1.8% to a rate of 965,000 units, the highest since May 2022. Though permits are a leading indicator, economists cautioned against being too optimistic about homebuilding prospects, citing the soaring mortgage rates and souring builder sentiment.

“It’s not lights out for homebuilding, but we don’t know how many more body blows with the Fed’s interest-rate hammer the nation’s housing sector can withstand,” said Christopher Rupkey, chief economist at FWDBONDS in New York.

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Sports

MLB playoff tracker: Yankees clinch postseason spot, Guardians grab AL Central lead

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MLB playoff tracker: Yankees clinch postseason spot, Guardians grab AL Central lead

A number of teams are starting to shift their focus to October as the final month of the 2025 MLB regular season continues.

The Milwaukee Brewers and Chicago Cubs have both clinched postseason berths, with the Brewers also taking home the NL Central title. The Philadelphia Phillies have locked up the NL East title, the Los Angeles Dodgers are headed back to October (again) and the Toronto Blue Jays became the first AL team to secure a playoff spot and the New York Yankees followed days later.

And in the biggest twists of the 2025 season, the Cleveland Guardians have rocked the American League playoff picture with a September surge, emerging as a serious contender in both the AL Central and wild-card race while the New York Mets‘ prolonged struggles have opened the door for the Cincinnati Reds and Arizona Diamondbacks in the NL wild-card race.

Beyond division races, there are many storylines to watch as the regular season comes to an end and playoffs begin: Where do current playoff matchups stand? What games should you be paying attention to each day leading up to October? Who will be the next team to clinch a postseason berth? And what does the playoff schedule look like?

We have everything you need to know as the regular season hits the homestretch.

Key links: Full MLB standings | Wild-card standings


Who’s in?

Milwaukee Brewers

The Brewers clinched the season’s first playoff spot for a second consecutive year on Sept. 13 and followed up by securing their third straight NL Central title.

Philadelphia Phillies

The Phillies clinched a spot in the postseason on Sept. 14. With a win the following night, Philadelphia clinched the NL East title for the second straight year.

Chicago Cubs

The Cubs clinched their spot in the postseason on Sept. 17 and will be making their first playoff appearance in a full-length season since 2018.

Los Angeles Dodgers

The Dodgers clinched their 13th consecutive playoff appearance on Friday.

Toronto Blue Jays

The Blue Jays became the first AL team to secure a postseason berth with a with over the Royals on Sunday.

San Diego Padres

The Padres clinched their fourth postseason trip in six years with a walk-off win over the Brewers on Monday.

New York Yankees

The Yankees became the second AL team to clinch a playoff spot with a walk-off win over the White Sox on Tuesday.


Who can clinch a playoff spot next?

On Tuesday, the Seattle Mariners can clinch a postseason berth with a win over Colorado.

There are also a number of other clinch possibilities coming up:

  • The Phillies can clinch a first-round bye and home field advantage in the NLDS with a win over Miami and a Dodgers loss on Tuesday.

  • The Dodgers can clinch the NL West as early as Wednesday.

  • The Blue Jays can clinch the AL East as early as Wednesday.

  • The Mariners can clinch the AL West as early as Wednesday.

  • The Brewers can clinch the No. 1 seed in the NL as early as Wednesday.

  • The Cubs can clinch the No. 4 seed in the NL as early as Wednesday.


What are this October’s MLB playoff matchups as it stands now?

American League

Wild-card round: (6) Tigers at (3) Guardians, (5) Red Sox at (4) Yankees

ALDS: Tigers/Guardians/ vs. (2) Mariners, Red Sox/Yankees vs. (1) Blue Jays

National League

Wild-card round: (6) Mets at (3) Dodgers, (5) Padres at (4) Cubs

NLDS: Mets/Dodgers vs. (2) Phillies, Padres/Cubs vs. (1) Brewers


Breaking down the AL race

The Blue Jays have taken control of the race for the AL’s No. 1 seed. While Toronto sits atop the AL East, the Boston Red Sox and New York Yankees are duking it out for wild-card seeding. And the Seattle Mariners are attempting to separate themselves from the Houston Astros in a two-team AL West race. Meanwhile, the Cleveland Guardians are in hot pursuit of the Detroit Tigers in the AL Central while also playing themselves into a tight race for the final wild-card spot.

And what about when these teams get to the postseason? Here’s what their chances are for every round:


Breaking down the NL race

The Brewers were the first MLB team to seal its spot in October, and the Phillies — who then sealed an NL East title — clinched next. A group of contenders have separated themselves atop the NL standings with the New York Mets, Arizona Diamondbacks and Cincinnati Reds battling for the final playoff spot, and there is intrigue in the NL West as the Dodgers attempt to fend off the Padres for the division crown.

And what about when these teams get to the postseason? Here’s what their chances are for every round:


Game of the day

Looking for something to watch today? Here’s the baseball game with the biggest playoff implications:


Playoff schedule

Wild-card series
Best of three, all games at better seed’s stadium

Game 1: Tuesday, Sept. 30
Game 2: Wednesday, Oct. 1
Game 3: Thursday, Oct. 2*

Division series
Best of five

ALDS
Game 1: Saturday, Oct. 4
Game 2: Sunday, Oct. 5
Game 3: Tuesday, Oct. 7
Game 4: Wednesday, Oct. 8*
Game 5: Friday, Oct. 10*

NLDS
Game 1: Saturday, Oct. 4
Game 2: Monday, Oct. 6
Game 3: Wednesday, Oct. 8
Game 4: Thursday, Oct. 9*
Game 5: Saturday, Oct. 11*

League championship series
Best of seven

ALCS
Game 1: Sunday, Oct. 12
Game 2: Monday, Oct. 13
Game 3: Wednesday, Oct. 15
Game 4: Thursday, Oct. 16
Game 5: Friday, Oct. 17*
Game 6: Sunday, Oct. 19*
Game 7: Monday, Oct. 20*

NLCS
Game 1: Monday, Oct. 13
Game 2: Tuesday, Oct. 14
Game 3: Thursday, Oct. 16
Game 4: Friday, Oct. 17
Game 5: Saturday, Oct. 18*
Game 6: Monday, Oct. 20*
Game 7: Tuesday, Oct. 21*

World Series
Best of seven

Game 1: Friday, Oct. 24
Game 2: Saturday, Oct. 25
Game 3: Monday, Oct. 27
Game 4: Tuesday, Oct. 28
Game 5: Wednesday, Oct. 29*
Game 6: Friday, Oct. 31*
Game 7: Saturday, Nov. 1*

* If necessary

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Politics

Farage criticised for failing to ‘stand up to idol’ Trump over autism claim

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Farage criticised for failing to 'stand up to idol' Trump over autism claim

Nigel Farage has refused to criticise Donald Trump for claiming pregnant women who take paracetamol risk causing autism in their child – saying “science is never settled”.

The Reform UK leader was asked by Nick Ferrari on LBC whether the US president was right to make the link, which UK health officials have discredited.

Politics latest: Pensions triple lock to stay, says minister

He replied: “I have no idea … you know, we were told thalidomide was a very safe drug and it wasn’t. Who knows, Nick, I don’t know.”

Mr Farage, who is a friend of Mr Trump, said the president has a “particular thing about autism – I think because there’s been some in his family, he feels it very personally”.

Asked if he would side with medical experts who have said there is no evidence for the link, Mr Farage said: “I wouldn’t, when it comes to science, I don’t side with anybody.

“I don’t side with anybody, you know, because, because science is never settled, and we should remember that.”

Pressed again on whether it was irresponsible to make that link as US president, Mr Farage replied: “That’s an opinion he’s got. It’s not one that I necessarily share. But I mean, honestly, I’ve no idea.”

On Monday, the US president claimed there had been a “meteoric rise” in cases of autism and suggested the use of Tylenol – an American-branded version of paracetamol – during pregnancy is a potential cause.

UK health experts and officials have pushed back hard on the claim, saying there is “no evidence” for it – including Health Secretary Wes Streeting, who said that “I trust doctors over President Trump, frankly, on this”.

Speaking on ITV’s Lorraine, Mr Streeting said: “I’ve just got to be really clear about this: there is no evidence to link the use of paracetamol by pregnant women to autism in their children. None.”

The health secretary then referenced a major study in Sweden last year that involved 2.4 million children, adding it “did not uphold those claims”.

He added: “I would just say to people watching, don’t pay any attention whatsoever to what Donald Trump says about medicine.

“In fact, don’t take even take my word for it, as a politician – listen to British doctors, British scientists, the NHS.”

The health secretary also took aim at Mr Farage over his failure to criticise the US president, saying he had “no idea and no backbone”.

Read more:
Here’s what the evidence says about Trump’s paracetamol claims
Davey warns Farage wants to turn Britain into ‘Trump’s America’

He referred to a separate controversy in which Dr Aseem Malhotra, a vaccine-sceptic doctor, told the Reform Party conference that the COVID vaccine gave the royal family cancer.

“Anti-science, anti-reason, anti-NHS,” Mr Streeting said.

A spokesperson for Reform UK said: “Dr Aseem Malhotra is a guest speaker with his own opinions who has an advisory role in the US government. Reform UK does not endorse what he said but does believe in free speech.”

The Liberal Democrats also criticised Mr Farage, accusing him of wanting to impose Mr Trump’s “dangerous anti-science agenda here in the UK”.

A spokeswoman said: “Peddling this kind of nonsense is irresponsible and wrong.

“It seems Farage would rather see pregnant women suffer in pain than stand up to his idol Donald Trump.”

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World

Spanish defence minister’s jet suffers GPS disturbance near Russian enclave

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Spanish defence minister's jet suffers GPS disturbance near Russian enclave

A Spanish military jet with a defence minister on board suffered a GPS “disturbance” while on the way to Lithuania, according to Spanish officials.

The military aircraft was flying near Russia’s Kaliningrad enclave on Wednesday morning when the incident is reported to have happened.

Margarita Robles was the minister on the flight, according to Spanish officials.

A commander onboard the Spanish plane said such incidents are common when flying near Kaliningrad, both for civil and military aircraft – and military satellites could also be used to navigate.

A Spanish defence ministry spokesperson said: “There has been an attempt to disrupt the GPS signal, but as our aircraft has an encrypted system, it was not affected.

“It must be common on this route and also with commercial flights. It is not because it is our aircraft.”

Read more: Who is messing with GPS signals – and why?

Ms Robles was due to have a bilateral meeting with her Lithuanian counterpart Dovile Sakaliene during a visit to the Siauliai airbase on Wednesday, according to the Spanish government’s agenda.

The plane was also carrying relatives of Spanish airmen forming part of the new NATO air defence mission on Europe’s eastern flank.

It was launched earlier this month after Poland shot down drones that had violated its airspace.

The Spanish contingent last week intercepted eight Russian aircraft operating over the Baltic Sea, Spain’s defence ministry added in a statement.

Ms Robles, 68, has been Spain’s defence minister since 2018.

In June, she said Spain was “absolutely committed” to NATO and the European Union.

Read more from Sky News:
Kremlin responds after Trump’s ‘big shift’ – UN latest updates
Farage criticised for failing to ‘stand up to idol’ Trump

Ursula von der Leyen speaks in Lithuania on 1 September. Pic: AP
Image:
Ursula von der Leyen speaks in Lithuania on 1 September. Pic: AP

Then in August, the minister said Spain would work to “invigorate” the European fighter jet project, known as FCAS.

It came after Spain revealed it was no longer considering the option of buying US-made F-35 fighter jets and would refocus its defence spending on buying European-made equipment.

At the end of August, a plane carrying European Commission President Ursula von der Leyen suffered GPS jamming as a result of suspected Russian interference, an EU spokesperson told Sky News.

Estonia and neighbouring Finland have also previously blamed Russia for jamming GPS navigation devices in the region’s airspace.

Russia has denied interfering with communication and satellite networks.

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