[Confidence among U.S. home builders fell to a one-year low as high borrowing costs continue to weigh on the housing market] September 16th: U.S. home builder confidence fell sharply this month to its lowest level in a year. Mortgage interest rates approaching 7%, labor shortages, and rising material costs further dampened hopes for recovery in the sluggish U.S. housing market. Data released by the National Association of Home Builders (NAHB) and Wells Fargo showed that the housing market index fell 3 points to 32, the lowest level since September 2025, and tied with the lowest level since the end of 2022. An index below 50 means more builders think market conditions are poor than those who think they are good, and the index has been below this level for more than two years in a row. The subdued outlook reflects the challenges facing U.S. homebuilders. There are few catalysts in sight that could turn things around until potential homebuyers get some relief from high borrowing costs. Consumer confidence is at one of its lowest levels on record, also reducing the chances of a turnaround in the market.