US Builder Confidence Hits Highest Level in 6 Months: National Association

U.S. builders are entering the fourth quarter on an optimistic note as mortgage rates decline.

An Oct. 16 report from the National Association of Home Builders (NAHB), presenting data from the NAHB/Wells Fargo Housing Market Index (HMI), stated that builder confidence in the new single-family home market registered a 37 in October—up by 5 points from September and the highest reading since April.