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Construction work on a new apartment building in Austin, Texas in February 2023.
Construction work on a new apartment building in Austin, Texas.

Brandon Bell/Getty Images

  • US housing starts surged in February, with the upside surprise boosted by falling lumber prices in the month. 
  • Construction projects pushed through a period of rising mortgage rates. 
  • Lumber prices climbed Thursday to trade above $400 per thousand board feet Thursday. 

Data for February showed that new housing construction spiked unexpectedly in February, aided by falling lumber prices during the month while mortgage rates continued to tick higher. 

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Markets, MI Exclusive, Housing Market, Lumber, lumber prices, economy, Housing Starts, Commodities, Interest Rates, mortgage rates
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Home construction unexpectedly surged in February as slump in lumber prices off…