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Rising mortgage rates dampen home builder sentiment in June

Rising mortgage rates dampen home builder sentiment in June (News (General))

by administrator @, Friday, June 19, 2009, 14:59

WASHINGTON (Reuters) — Homebuilder sentiment slipped in June, a private survey showed Monday, as higher mortgage rates and an ongoing credit crunch damped expectations for the sector.

The National Association of Home Builders/Wells Fargo Housing Index slipped to 15 from 16 in May. Experts had expected the index to climb one point.

The deep slump in the U.S. housing market has shown some signs of abating. However, the NAHB said consumer anxiety over jobs and the economy's health has created an uncertain picture for the sector's recovery.

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