According to the National Association of Home Builders Housing Market Index for March, builder confidence in market conditions reached its highest level in 12 years and was six points higher than February's index reading of 65. Housing market index readings are based on three components. Builder confidence in current market conditions for new single family homes rose seven points to 78; builder confidence in market conditions for the next six months increased five points to an index reading of … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 26, 2015
Last week's economic news included the National Association of Home Builders Index, Housing Starts and FHFA's report on August home sales. The National Association of Realtors® released its monthly report on sales of previously owned homes. Builder Confidence and Housing Starts Post Gains The Wells Fargo National Association of Home Builders Housing Market Index for September posted its highest level of builder confidence in 10 years a higher than expected results with a reading of 64 for … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 21, 2015
Last week's economic releases included several reports related to housing. The Wells Fargo/ NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week's big news was actually no news. The Fed's Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet … [Read more...]
NAHB: Builder Confidence Hits Highest Rate in 9 Years; Fed Doesn’t Raise Rates
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index reported that home builder confidence rose by one point to a reading of 62 for September. This was the highest reading since November 2005, when the NAHB reported a reading of 68 for home builder confidence. Any reading above 50 indicates that more builders are confident about housing market conditions than those who are not. NAHB notes that builder confidence has been growing at a moderate pace since July 2014; … [Read more...]
