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Home builders feeling good

WASHINGTON — Even though mortgage rates are ticking up slightly, home builders remain bullish about the outlook for home sales, and a gauge of their confidence remained unchanged in March from an upwardly revised February reading.

The monthly Housing Market Index compiled by the National Association of Home Builders (NAHB) and Wells Fargo Bank held steady with February's revised reading of 69.

The average interest rate on long-term mortgages rose about 25 basis points, or one fourth of a percentage point, between the February and March surveys.

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