The US October housing starts index fell to its lowest level in approximately 14 and a half years, weighed down by higher mortgage rates and persistently high building-material prices.
The US October housing starts index fell to a low level, reaching its lowest point in 14 years, according to reports.
The decline was attributed to higher mortgage rates and persistently high building-material prices, which were said to have contributed to a reduction in housing starts.
The article notes that the US housing market has continued to struggle since interest rates began rising in 2022, and that interest-rate trends could have a significant impact on the market's recovery.