Tech Insider
Home builders constructing a home.
Builder confidence in the market for newly built single-family homes rose four points to 35 in January, according to the National Association of Homebuilders.

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  • The National Association of Home Builders/Wells Fargo Housing Market Index slid to 50 in August from 56 in July.
  • The dip from July's 13-month high marked the first decline of 2023.
  • Meanwhile, Bankrate data shows the typical 30-year fixed mortgage rate hit 7.53%, as of Monday.

Home builders are feeling more pessimistic than last month as climbing mortgage rates keep buyers on the sidelines, weighing on housing demand. 

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Markets, MI Exclusive, Home builders, Confidence, Housing Market, Wells Fargo, Bankrate, Home Prices, mortgage rates, 30 year mortgage, National Association of Home Builders, Home values, Recession
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Home builder confidence just dropped for the first time in 2023 as spike in mor…