Market News
NEW YORK, Sept 18 - U.S. homebuilder confidence fell for a second month in September, with optimism dropping to the lowest since April as high interest rates cut into affordability for prospective buyers.
Confidence was below a Reuters poll showing the median expectation among economists was for a reading of 50. With homeowners discouraged from selling due to higher interest rates, the homebuilder market had shown signs of recovering during the first half of 2023 as demand for new home construction increased. The latest data, though, suggest that recovery has faltered.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US homebuilder confidence falls to lowest since April, says NAHBU.S. homebuilder confidence fell for a second month in September, with optimism dropping to the lowest since April as high interest rates cut into affordability for prospective buyers. The fall in optimism was accompanied by a decrease of traffic of prospective buyers. “High mortgage rates are clearly taking a toll on builder confidence and consumer demand, as a growing number of buyers are electing to defer a home purchase until long-term rates move lower,” said Robert Dietz, chief economist at the NAHB.
Read more »
US homebuilder confidence falls to lowest since April, says NAHBBy Amina Niasse NEW YORK (Reuters) - U.S. homebuilder confidence fell for a second month in September, with optimism dropping to the lowest since April ...
Read more »
Stocks mixed as Wall Street braces for Fed meeting: Stock market news todayWall Street fixed its focus on an upcoming Federal Reserve meeting where the central bank will issue its next interest rate decision: stock market news today.
Read more »
German recession could benefit Spanish companies, minister saysMarket News
Read more »
China central bank, FX regulator meet foreign firms in capital driveMarket News
Read more »