Posted To: MND NewsWire

Home builders apparently pushed aside current concerns about supply chain disruptions to display increased confidence in the new home market in October. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) which gauges that confidence rose 4 points this month to 80. However, NAHB economist Robert Dietz says that, despite the increase, “builders are getting increasingly concerned about affordability hurdles ahead for most buyers. Building material price increases and bottlenecks persist and interest rates are expected to rise in coming months as the Fed begins to taper its purchase of U.S. Treasuries and mortgage-backed debt.” He urged policymakers to focus on fixing supply chain issues to spur more residential construction and help ease upward pressure on…(read more)

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Source: Mortgage News Daily