TOL May 2024 124.000 put

Homebuilder confidence falls amid high mortgage rates

The persistent rise in mortgage rates has cast a shadow over the housing market. A recent report from the National Association of Home Builders (NAHB) revealed that the index that tracks homebuilder confidence plunged 6 points in May — suggesting that homebuilders currently perceive the conditions for building as unfavorable in this higher-for-longer interest rate environment. Yahoo Finance's Dani Romero breaks down the details, discussing homebuilders' steps to boost home sales and predictions for moderating home costs. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith and updated by Luke Carberry Mogan.