Construction of new homes and apartments rose 4.7 percent in January to the highest level in over two decades as low mortgage rates continued to power the nation’s housing industry.

The Commerce Department reported Wednesday that builders began construction on 2.16 million units at a seasonally adjusted annual rate last month, up from a rate of 2.06 million units in December.

The January total marked the highest pace of housing starts since February 1984 when they hit a 2.260 million unit pace.

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