Housing construction falls to 12-year low

Data indicate real estate slump is worsening

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Sand castles
Open House: A look at some properties for sale around the country with an ocean view.

Latest interest rates

See today's average mortgage rates across the country.

Loan type	Today	+/-	Last week
30-year fixed	5.11%		5.15%
15-year fixed	4.71%		4.60%
30-year fixed jumbo	5.94%		6.08%
5/1 ARM	4.25%		4.24%
7/1 ARM	4.45%		4.47%

Source: Bankrate.com | View rates in your area

See today's average home equity rates across the country.

Loan type	Today	+/-	Last week
$30K HELOC	5.22%		5.24%
$30K home equity loan	8.32%		8.36%
$75K home equity loan	8.25%		8.40%
$50K home equity loan	8.21%		8.37%
$50K HELOC	4.96%		4.99%

Source: Bankrate.com | View rates in your area

See today's savings rates across the country.

Savings type	Today	+/-	Last week
Money market	1.04%		1.05%
$10K money market	1.13%		1.13%
Six-month CD	1.13%		1.15%
One-year CD	1.61%		1.63%
Five-year CD	2.61%		2.65%

Source: Bankrate.com | View rates in your area

See today's average auto rates across the country.

Loan type	Today	+/-	Last week
48-month new car loan	7.08%		7.07%
36-month used car loan	7.42%		7.40%
36-month new car loan	6.93%		6.91%
60-month new car loan	7.13%		7.12%

Source: Bankrate.com | View rates in your area

See today's average credit card rates across the country.

Card type	Fixed	Variable
Standard	13.46%	11.48%
Gold	12.12%	9.89%
Platinum	11.19%	11.90%
All	12.34%	11.46%

Source: Bankrate.com | View more rates

Interactive

Foreclosure rates by state
Foreclosure rates tend to be highest in four key states. Click to see the progression for every state since 2005.

updated 3:17 p.m. ET Sept. 19, 2007

WASHINGTON - Construction of new homes fell in August to the slowest pace in 12 years as troubles in the housing industry continued to intensify.

The Commerce Department reported Wednesday that construction of new homes fell by 2.6 percent in August to a seasonally adjusted annual rate of 1.331 million units.

The housing industry is experiencing its steepest downturn in 16 years with analysts forecasting weak prices and further declines in sales for months to come, given rising mortgage defaults which are dumping even more homes on an already glutted market.

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On Tuesday, the National Association of Home Builders reported that its index of builder