Freddie Mac Primary Mortgage Market Survey

U.S. Home Builder Confidence Rises in September for First Time Since April Amid Rate Cut Expectations

Sep 17, 2024, 02:29 PM

U.S. home builder confidence increased in September, marking the first rise since April, according to the NAHB Housing Market Index September report. The improvement is attributed to falling mortgage rates and the anticipation of a Federal Reserve interest rate cut, which is expected to alleviate the current high rates that have persisted for two decades. This renewed confidence follows four months of consecutive declines and reflects a more optimistic outlook among builders regarding their ability to sell newly built homes.