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Live news: US mortgage rates fall to 4-month low

The rate of US new home construction fell to a five-month low as higher mortgage rates weaken demand.US housing starts in December fell 1.4 per cent month on month to an annualised pace of 1.38mn, the lowest level since July, the commerce department said on Thursday. That missed economists’ estimates for a more modest decline to 1.36mn.The…
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