Housing Construction Highest in 5 Months
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Housing construction in August surged to its highest level in five months, a dose of encouraging news for the economy's expansion.
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U.S. construction spending rose 1.1  percent in December, topping expectations, as private  residential spending jumped to a record high, a government  report showed on Tuesday.
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Consumer spending accelerated in October as a surge in hiring led to the biggest rise in incomes in five months, the government reported yesterday.
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A half-dozen developers plan to start residential projects in the next six months with a combined total of nearly 6,000 apartments.
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A jump in starts on single-family housing pushed total U.S. housing starts to a nearly 21-year high in January, but home mortgage applications dipped last week, according to data reported on Wednesday.
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Shares of home builders soared on  Monday as a frenzy of short sellers bought stock to cover their  positions, giving the overall housing stock index its greatest  one-day gain in about five years.
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Mortgage rates are nearing a five-year high, raising the cost of home ownership for buyers by hundreds or thousands of dollars a year at a time when real estate markets are struggling with tepid demand and a surplus of houses for sale.
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New-home sales surged unexpectedly in September, climbing 3.5%, as low mortgage rates attracted buyers, a government report showed Wednesday.
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US services expanded in December at the fastest pace in five months, capping a record year for the biggest part of the economy, a private survey showed yesterday.
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The pace of U.S. home building rose  in November as new home starts climbed 6.7 percent, rebounding  from a sharp decline in October while building permits fell 3  percent, a government report showed on Tuesday.
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U.S. housing starts unexpectedly  rose 0.6 percent in August to their highest level in five  months as low mortgage rates encouraged construction, but  permits fell more than anticipated, a government report showed  on Tuesday.
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Housing starts rebounded sharply in July, making up almost all the ground lost in a June slump by posting their largest monthly percentage gain since September 2002, a report from the Commerce Department on Tuesday showed.
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The pace of existing home sales fell sharply in August to a 5.5 million-unit annual rate while single-family home inventories grew to their highest level in 18 years, the National Association of Realtors said in a report on Tuesday.
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NEW YORK -- Mortgage rates have jumped this week, propelled higher by news of strengthening in the economy. Rates on 30-year fixed-rate mortgages are averaging 5.82 percent in the new survey from mortgage company Freddie Mac.
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Mortgage rates extended their climb  for the fifth straight week, skyrocketing to highs not seen in  nearly a year, according to a weekly survey released by finance  company Freddie Mac  on Thursday.
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A spokesman from the National Bureau of Statistics (NBS) said here Friday that multi-fators have pushed up the housing price. Statistics show that the prices of housing and
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The number of home repossessions in the UK rises to its highest since 1999, mortgage lenders say.