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The NAHB/Wells Fargo Housing Market Index fell three points to 29 in October, below the 30 recorded in April 2020 and the 32 economists expected. All three components declined as mortgage rates and affordability pressures weighed on builders and buyers.
US mortgage rates increased for seven straight weeks for the first time in three years, adding pressure to an already weak housing market. Selma Hepp, Chief Economist at Cotality, discusses home sales and the outlook for mortgage rates and refinancing. ()
EXECUTIVE SUMMARY * TRUMP HAILS 'VERY GOOD' IRAN TALKS FOLLOWING ANNIHILATION THREAT - BBG: #cdbad0a1-5c8d-4cdb-9819-370162b99299 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH - WSJ: #a4c79a68-e487-466b-a806-4885fa3200e0 * LASTING SHOCKS, FIRMING DEMAND REQUIRE FED ACTION - BARKIN - MNI