Groundbreaking for new U.S. home construction increased 2.8% to a seasonally adjusted 591,000 in January as building permits decreased by 4.9% to 621,000, the Commerce Department reported yesterday.

Economists expected 580,000 housing starts and 620,000 building permits, according to the median estimate from Thomson Reuters.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.