While building permits authorized for new homes were 4.8% higher in August than in July, actual housing starts fell 3.8% in August. With mortgage rates rising back to normal levels, it would appear that the house-buying spree Americans enjoyed in July may be curtailing. Housing starts reached a seasonally adjusted rate of 1,820,000 in August, a downward meander from July?EUR??,,????'???s rate of 1,892,000, but 11.7% higher than last year?EUR??,,????'???s total of 1,630,000. Yet housing units that were authorized in August sailed above July?EUR??,,????'???s totals by 4.8%, suggesting that the home-buying frenzy is not quite over?EUR??,,????'???just slowing down. In August, 1.89 million units received authorization, while 1.80 did in July, and 1.7 million were authorized last year. Surprisingly, the number of homes with five or more units leapt 15.2% from July to 333,000 authorized, the highest it?EUR??,,????'???s been since May of this year. Mortgage rates are lowering again, as this week?EUR??,,????'???s rate for a 30-year fixed mortgage lowered to 5.68% from last week?EUR??,,????'???s 5.82%. Bankrate.com reports that some experts believe the rate will hold for a while. Seasonally Adjusted Rates New Privately-Owned Housing Units Authorized in Permit-Issuing Places Units Number in % Change % Change Thousands of Units from July ?EUR??,,????'???03 from August ?EUR??,,????'???02 Total Homes 1886 +4.8 +10.7 1 Unit 1475 +2.9 +11.8 2-4 Units 78 +1.3 +6.8 5+ Units 333 +15.2 +6.7 New Privately-Owned Housing Units Authorized, but Not Started Units Number in % Change % Change Thousands of Units from July ?EUR??,,????'???03 from August ?EUR??,,????'???02 Total 179.2 +0.5 +19.4 1 Unit 115.3 -0.3 +13.8 2-4 Units 5.9 -1.0 +5.9 5+ Units 58.0 +2.2 +34.1 New Privately-Owned Housing Units Started Units Number in % Change % Change Thousands of Units from July ?EUR??,,????'???03 from August ?EUR??,,????'???02 Total 1820 -3.8 +11.7 New Privately-Owned Housing Units Under Construction at End of Period Units Number in % Change % Change Thousands of Units from July ?EUR??,,????'???03 from August ?EUR??,,????'???02 Total 1092 +1.9 +8.0 New Privately-Owned Housing Units Completed Units Number in % Change % Change Thousands of Units from July ?EUR??,,????'???03 from August ?EUR??,,????'???02 Total 1575 -6.5 +7.6