U.S. housing starts, building permits scale 12-year high

FILE PHOTO: Development and construction continues on a large scale housing project of over 600 homes in Oceanside, California, U.S., June 25, 2018. REUTERS/Mike Blake/File Photo GLOBAL BUSINESS WEEK AHEAD

WASHINGTON (Reuters) – U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction accelerated, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market. The report from the Commerce Department on Wednesday also showed permits for future home construction rose to levels […]

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