Low Rates Encourage Home Builders

With mortgage rates low and the economy showing signs of ticking up, home-builder confidence remained sturdy during November, said a canvass by the National Association of Home Builders and Wells Fargo Bank.

The monthly Housing Market Index compiled by the two organizations was unchanged in October after a strong four-point jump in September to a level of 71.

“The basic story hasn't changed,” said David Seiders, chief economist of the National Association of Home Builders. “As of the end of October, the average interest on a 30-year mortgage was 5.64 percent. That moved up slightly to 5.76 percent as of mid-November — still an exceptionally attractive rate. The result is builders' continued confidence in the momentum of this housing market.”

The monthly gauge of single-family home sales improved two points to a reading of 79, its highest level of the year.

The index gauging sales expectations for the next six months, and another gauging traffic of prospective buyers, each edged down two points.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!