U.S. October NAHB Homebuilders Index - Lowest since 2012 as mortgage rates rise
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October’s NAHB homebuilders index at 29 from 32 is the lowest since June 2012 and suggests that rising mortgage rates are having a significant impact on housing demand.
All three components fell, current sales moderately to 33 from 35 but buyers traffic fell to 18 from 23 and 6-month expectations fell to 32 from 37.
This is the second straight sharp fall in 6-month expectations which stood at 43 in both July and August. The data implies downside risk to new home sales in the months ahead.