Home construction unexpectedly surged in February as slump in lumber prices offset pain of rising mortgage rates

Industry News

US housing starts surged in February, with the upside surprise boosted by falling lumber prices in the month. Construction projects pushed through a period of rising mortgage rates. Lumber prices climbed Thursday to trade above $400 per thousand board feet Thursday. Data for February showed that new housing construction spiked unexpectedly in February, aided by…

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