By Joshua KirbyConfidence among U.S. home builders fell for the first time in a half year as would-be buyers balked at high mortgage rates. That is according to a report from the National Association of Home Builders released Wednesday. --Economists surveyed by The Wall Street Journal had expected the index to slip less sharply to 50, the index's breakeven point. --Potential buyers are stepping back as mortgage rates climb, NAHB Chairman Carl Harris said. --A quarter of builders cut prices as an incentive this month, the survey showed, reversing previous months' decline in builders using such measures.

Source: Wall Street Journal May 15, 2024 14:23 UTC