New U.S. home construction ticked higher in June after declining the previous month, even as the housing market continues to confront headwinds like higher mortgage rates.

<a href="https://foxnews.com/category/us/economy/housing" target="_blank">Housing starts</a> rose 3.9% last month to an annual rate of 1.45 million units, according to new Commerce Department data released Wednesday. That is slightly above Refinitiv economists' forecast for a pace of 1.44 million units.

Applications to build – which measures future construction – also inched higher, climbing 0.1% over the course of the month to an annualized rate of 1.44 million units. Compared with the same time last year, building permits are down about 13%.&nbsp;

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New U.S. home construction rose 3.9% in July after declining the previous month, even as high mortgage rates continued to weigh on the housing market.{ai:summary}U.S. home construction increases slightly in June, despite challenges like higher mortgage rates. Housing starts rise 3.9% to 1.45 million units. Building permits down 13% from last year. #economy

Housing starts rise more than expected in July despite rising mortgage rates

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