US home building permits rise more than expected in November

Home building Permits in the United States increased more than expected in November, and future home building permits rose to their highest level in 12 and a half years as mortgage rates continued to decline to boost the housing market and support the broader economy and the Commerce Department said housing starts rose 3.2% to A seasonal annual rate of 1.365 million units last month, with construction work for one family rising to its highest level in 10 months and activity in the multi-volatile family sector for the second month in a row, as October data was revised up to show the rise in house construction to 1.323 million units instead Progress from 1.314 million units as previously reported, housing increased by 13.6% year on year in November and building permits increased 1.4% to 1.482 million units in November, the highest level since May 2007.