Home builder confidence remains near 20-year high

Home builder confidence remains near 20-year high

Home builder confidence remains near 20-year high
Strong home sales during the winter months and continually low mortgage rates have helped home builders maintain their confidence in the future of the housing market. According to the February Housing Market Index from The National Association of Home Builders and Wells Fargo, the latest sentiment readings are near their highest level since June 1999.

While February’s index slipped by one point to a reading of 74, any reading above 50 is generally considered to be positive.

The index measures home builder confidence on variety of factors impacting the housing market including demand for new homes, worker availability and supply costs.

Meanwhile, no-point conforming 30-year fixed mortgage rates are averaging 3.5 percent and 15-year rates are near 3.0 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.