Lumber prices remained near recent lows as construction on new homes fell while mortgage rates jumped. Housing starts dropped 14.4% in May from the prior month to a 1.55 million annualized rate, the lowest in more than a year. The average 30-year fixed-rate mortgage climbed to 5.65% for the week ended June 10, the highest level since late 2008. North American lumber prices remained near recent lows Friday as construction on new homes fell to the lowest in more than a year while ...
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