From BigGo Finance · BigGo Finance · · 40s
U.S. Housing Starts Drop
U.S. housing starts fall 5.2% in September, third straight decline as mortgage rates rise.
In brief
U.S. housing starts fall 5.2% in September, third straight decline as mortgage rates rise. U.S. housing starts dropped 5.2% in September to 1.221 million units, the third consecutive monthly decline, driven by elevated mortgage rates. Originally reported by BigGo Finance.
U.S. Housing Starts Fall
U.S. housing starts fell 5.2% in September, marking the third consecutive monthly decline.
Third Straight Decline
The decline followed a drop in single-family starts by 4.6% and multifamily starts by 7.2%.
Regional Variations
The South rose 6.1% while the Midwest and West posted sharp declines.
Building Permits Drop Slightly
Building permits fell 0.2% to 1.40 million units, beating market expectations.
The essence
U.S. housing starts dropped 5.2% in September to 1.221 million units, the third consecutive monthly decline, driven by elevated mortgage rates.
