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Sept. Housing Starts Up 4.4%

October 20, 1987|United Press International

WASHINGTON — Housing starts jumped to an annual rate of 4.4% in September in the largest increase of 1987, the Commerce Department said today.

Analysts, however, said interest rates--which now average 11.5% for fixed, 30-year mortgages--would have to decline from current levels to maintain the improved housing picture. The number of building permits issued last month declined 0.6% after a 1% gain in August, according to the department's Census Bureau.

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