Reported 14 days ago
The National Association of Home Builders (NAHB) reported a rise in U.S. homebuilder confidence to 37 in October, with CEO Jim Tobin discussing the optimism due to recent Federal Reserve rate cuts despite still elevated mortgage rates. While the market remains challenging, there’s a positive outlook for the next six months as builders anticipate lower interest rates and potential future cuts. However, buyers might face difficulties as mortgage rates are expected to remain high in the near term.
Source: YAHOO