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US home building fell for a 3rd month in February, but permits for future construction rose

U.S. home construction fell for a third month in February, but in a hopeful sign, applications for building permits rose to their highest level in four months.

The Commerce Department says builders started work on 907,000 homes at a seasonally adjusted annual rate in February. That was down a slight 0.2 percent from January, when construction had fallen 11.2 percent. The declines have been blamed in large part on severe winter weather in much of the country.

Applications for permits to build new homes, considered a gauge of future activity, rose a solid 7.7 percent in February to 1.02 million units.

The expectation is that housing sales and construction will show further gains this year, helped by a stronger economy.

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Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.17% up 4.11%  
15 Y Fixed Graph 3.19% up 3.16%  
30 Y Fixed Jumbo Graph 4.35% up 4.32%  
5/1 ARM Graph 3.30% up 3.13%  
5/1 Jumbo ARM Graph 3.56% up 3.32%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.41% dw 4.52%  
$50K HELOC Graph 4.06% dw 4.09%  
$30K Loan Graph 5.08% -- 5.08%  
$50K Loan Graph 4.56% -- 4.56%  
$75K Loan Graph 4.56% -- 4.56%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.06% up 3.04%  
36 M Used Graph 3.29% up 3.26%  
48 M New Graph 2.96% dw 2.99%  
48 M Used Graph 2.96% up 2.93%  
60 M New Graph 3.22% dw 3.25%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.37% -- 0.37%  
1 yr Graph 0.60% -- 0.60%  
5 yr Graph 1.45% -- 1.45%