Reported 8 months ago
In May, U.S. single-family homebuilding decreased by 5.2% due to high mortgage rates, with single-family housing starts falling to 982,000 units. The average rate for a 30-year fixed mortgage dropped to 6.95% as labor market conditions eased and potential rate cuts from the Federal Reserve reemerged. Permits for future single-family home construction also declined by 2.9% to 949,000 units in May.
Source: YAHOO