News Summary: US builder confidence steady

  • Article by: The Associated Press
  • Associated Press
  • September 17, 2013 - 11:35 AM

HOLDING STEADY: Confidence among U.S. homebuilders held this month at its highest level in nearly eight years. But many builders are concerned rising mortgage interest rates could dampen home sales in coming months.

THE NUMBERS: The latest National Association of Home Builders/Wells Fargo builder sentiment index registered at 58 this month. That's unchanged from August, which was revised down from an initial reading of 59. Readings above 50 indicate more builders view sales conditions as good, rather than poor.

YELLOW FLAG: Builders' outlook for single-family home sales over the next six months fell three points to 65.

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