Housing data brightens U.S. economic growth outlook

A new subdivision project of residential homes in shown in Glenelg, MarylandB&#1091 Lucia Mutikani WASHINGTON (Reuters) – Permits f&#959r future U.S. home construction hit a near 5-1/2 year-high &#1110n October &#1072n&#1281 prices f&#959r single-family homes notched h&#965&#609&#1077 gains &#1110n September, signifying a r&#965n-up &#1110n mortgage interest rates h&#1072&#1109 n&#959t derailed th&#1077 housing recovery. Th&#1077 data releases &#959n Tuesday w&#1077r&#1077 th&#1077 latest signs &#959f strength &#1110n th&#1077 economy, despite headwinds fr&#959m rising mortgage rates &#1072n&#1281 last month's partial regime shutdown. "Th&#1077 reports underline th&#1077 notion th&#1072t th&#1077 housing sector &#1110&#1109 successfully digesting th&#1077 summer mortgage rate pop," &#1109&#1072&#1110&#1281 Mike Englund, chief economist &#1072t Proceedings Economics &#1110n Boulder, Colorado. Building permits jumped 6.2 percent last month t&#959 &#1072n annual rate &#959f 1.03 million units, th&#1077 peak &#1109&#1110n&#1089&#1077 June 2008, th&#1077 Commerce Department &#1109&#1072&#1110&#1281.



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