Yahoo Finance published this video item, entitled “Home builder confidence surges as mortgage rates fall” – below is their description.
The latest NAHB/Wells Fargo Housing Market Index rose 7 points to 44 in January from December. Confidence surged as mortgage rates continued to tumble. According to the release, 31% of home builders cut prices in January, the lowest rate since August. National Association of Home Builders Chairman Alicia Huey says, however, that “builders will face growing challenges with building material cost and availability, as well as lot supply.”
Yahoo Finance’s Brad Smith and Seana Smith report on the breaking data.
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