{"id":4046,"date":"2023-10-18T16:58:34","date_gmt":"2023-10-18T08:58:34","guid":{"rendered":"https:\/\/tingchao.xyz\/?p=4046"},"modified":"2023-10-18T16:58:37","modified_gmt":"2023-10-18T08:58:37","slug":"high-mortgage-rates-continue-to-dampen-u-s-builder","status":"publish","type":"post","link":"https:\/\/tingchao.xyz\/?p=4046","title":{"rendered":"High mortgage rates continue to dampen U.S. builder"},"content":{"rendered":"\n<p>Stubbornly high mortgage rates that have remained above 7 percent for the past two months continue to take a heavy toll on builder confidence, as sentiment levels have dropped to the lowest point since January, according to the National Association of Home Builders (NAHB)\/Wells Fargo Housing Market Index (HMI) released Tuesday.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"260\" height=\"194\" src=\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2023\/10\/\u56fe\u7247-16.png\" alt=\"\" class=\"wp-image-4047\"\/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>Builder confidence in the market for newly built single-family homes in October fell four points to 40 from a downwardly revised September reading, marking the third consecutive monthly drop in builder confidence. Any number below 50 indicates that more builders view conditions as poor than good.<\/p>\n\n\n\n<p>&#8220;Builders have reported lower levels of buyer traffic, as some buyers, particularly younger ones, are priced out of the market because of higher interest rates,&#8221; said NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Alabama.<\/p>\n\n\n\n<p>&#8220;Higher rates are also increasing the cost and availability of builder development and construction loans, which harms supply and contributes to lower housing affordability,&#8221; said Huey.<\/p>\n\n\n\n<p>Since late September, mortgage rates are up nearly 40 basis points to 7.57 percent, holding at the highest level since 2000, according to Freddie Mac.<\/p>\n\n\n\n<p>Interest rates have increased on the Federal Reserve&#8217;s apparent higher-for-longer monetary policy stance, better than expected macro growth during the third quarter and longer-term concerns over government budget deficits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stubbornly high mortgage rates that have remained above 7 percent for the past two months continue to take a heavy toll on builder confidence, as sentiment levels have dropped to the lowest point since January, according to the National Association of Home Builders (NAHB)\/Wells Fargo Housing Market Index (HMI) released Tuesday. Builder confidence in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[1786,1787,1788],"class_list":["post-4046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-high","tag-mortgage","tag-rates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>High mortgage rates continue to dampen U.S. builder - LISTEN WORLD<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tingchao.xyz\/?p=4046\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High mortgage rates continue to dampen U.S. builder - LISTEN WORLD\" \/>\n<meta property=\"og:description\" content=\"Stubbornly high mortgage rates that have remained above 7 percent for the past two months continue to take a heavy toll on builder confidence, as sentiment levels have dropped to the lowest point since January, according to the National Association of Home Builders (NAHB)\/Wells Fargo Housing Market Index (HMI) released Tuesday. 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