By Lucia Mutikani | Reuters
U.S. housing starts in October fell to a seven-month low, weighed down by a steep decline in the construction of multi-family homes, but a surge in building permits suggested the housing market remained on solid ground.
While the drop in groundbreaking activity reported by the Commerce Department on Wednesday implied a moderation in residential investment early in the fourth quarter, it did little to change the view that the Federal Reserve would hike interest rates next month.
