US housing starts tumble in August; building permits jump

US housing starts tumble in August; building permits jump By Lucia Mutikani WASHINGTON (Reuters) -U.S. homebuilding plunged to more than a three year-low in August as a resurgence in mortgage rates weighed on demand for housing, but a surge in permits suggested new construction remained supported by a dearth of homes on the market. The decline in housing starts reported by the Commerce Department on Tuesday was the largest in a year and occurred across the board, suggesting that an …