US housing construction jumps 16.9% in December

WASHINGTON (AP) — Construction of new homes surged in December to the highest level in 13 years, capping a year in which falling mortgage rates and a strong labor market helped lift the prospects of the housing industry.The Commerce Department reported Friday that builders started construction on 1.61 million homes at a seasonally adjusted annual rate in December, up 16.9% from the November pace of home building.Housing construction has been rising since July, helped by falling mortgage ra