Homebuilder sentiment drops for fourth straight month, as rising rates push housing to ‘an inflection point’

Econ & Housing

A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California.David Paul Morris | Bloomberg | Getty ImagesSharply rising mortgage rates are taking their toll on the nation’s homebuilders, as already pricey new construction becomes even less affordable. Builder confidence in the market for new single-family homes…

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