Builder Confidence Holds Steady as Mortgage Rates Reach 7%
Monday, 15 April 2024, 14:00
Builder Sentiment Stalls with Rising Mortgage Rates
Builder confidence remained at a standstill in April as discouragingly high mortgage rates dampened home-buying demand across the market.
Buyers Wait for Rate Reductions before Committing
According to the National Association of Home Builders, the surge in mortgage rates to 7% has left potential buyers hesitant, with many choosing to delay their purchase decisions in anticipation of lower interest rates in the future.
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