Completions of new homes in the nation...

Completions of new homes in the nation fell 1.2% in August to a seasonally adjusted annual rate of 1.51 million units after a slim 0.7% gain in July, the Commerce Department said. The decline reflects an ongoing slowdown in the home building industry, caused in part by rising interest rates, analysts said. The overall completion rate was 7.5% below the August, 1987, pace of 1.63 million units, the department said.