U.S. housing starts, permits beat expectations

The U.S. Census Bureau reports that February’s housing starts were at an annualized rate of about 1.77 million units, their highest level since June 2006. That’s up 6.8 percent from the revised January numbers and ahead of analyst estimates of 1.7 million units. Building permits were at a rate of 1.86 million, down 1.9 percent from January but still 7.7 percent above last February’s pace. Economists had forecast a rate of 1.85 million units.