Rates down, new houses go up
August 31, 2004,
WASHINGTON — Lower mortgage interest rates helped boost home builders' confidence in the market for new single-family homes during August, according to a monthly canvass compiled by the National Association of Home Builders and Wells Fargo Bank.
The monthly Housing Market Index rose to a current level of 71, up four points from a revised July figure of 67. Builder confidence is now on par with its year-ago level.
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