Pursuits
U.S. Homebuilders' Sentiment Slips as Buyers Hunker Down
- Builders stay fairly confident, while struggling to cut costs
- Confidence declined most in Northeast, held steady in West
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Confidence among U.S. homebuilders dropped in February as rising interest rates damped the market’s optimism, according to data Wednesday from the National Association of Home Builders/Wells Fargo.
After adjusting from a post-election jump, homebuilders continue to be pretty confident. With the Trump administration and Republican Congress vowing to cut regulation, developers are hopeful it will become easier to buy or build a home. While this mirrors enthusiasm in other sectors of the economy, a continued rise in mortgage rates would curb optimism.