U.S. single-family homebuilding fell for a third straight month in June while permits for future construction dropped to the lowest level in 10 months, weighed down by higher mortgage rates and a glut of unsold new homes. Single-family housing starts, which account for the bulk of homebuilding, slipped 0.2% to a seasonally adjusted annual rate of 895,000 units, the Commerce Department's Census Bureau reported. Permits for future construction of single-family homes dropped 2.4% to a rate of 871,000 units, the lowest since August 2025. The rate on the popular 30-year fixed mortgage averaged an 11-month high of 6.55% this week, according to Freddie Mac. Overall housing starts jumped 19.0% to a pace of 1.427 million units, driven by a 76.3% surge in the volatile multi-family segment, while overall building permits fell 3.0% to a rate of 1.367 million units.