High Mortgage Rates Weaken Builder Confidence

The NAHB says persistently high mortgage rates continue to erode builder confidence, as sentiment levels have dropped below the key break-even measure of 50 for the first time in five months. As such, builder confidence in the market for newly built single-family homes in September fell five points to 45, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Continue reading HERE...