Homebuilder Blues News Today

Despite the Federal Reserve's easing stance on monetary policy and cooling inflation rates, housing prices are up significantly, sparking an affordability crisis. While mortgage rates have dropped lately, they still hover near record-high levels, causing homebuilders to remain bearish. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) fell by six points to 34 last month, marking the fourth consecutive month of declines. Homebuilder sentiment stands at the lowe...