March Sees U.S. Housing Starts & Permits Fall Below Expectations

The housing market is feeling the squeeze as mortgage rates climb, deterring potential buyers and stalling the housing recovery. March's homebuilding data highlights this trend, with single-family homebuilding taking a hit.Permits for future construction and housing starts both fell short of expectations, reflecting the impact of rising mortgage rates on market activity. Builder hopes for lower interest rates have dimmed, complicating the outlook for the housing sector.Key TakeawaysAccording to Commerce Dep ...