Homebuilder confidence at highest level since 2005

Homebuilder confidence held in September at the highest level in almost eight years, a sign housing will remain a bright spot for the U.S. economy.
 
According to a Bloomberg report, the homebuilders’ confidence index, as tracked by the National Association of Home Builders and Wells Fargo, is sitting at an encouraging 58. That’s eight points over the mark where builders see their industry’s conditions as good, rather than poor.

The recent rise in mortgage rates might temporarily affect the housing recovery, and construction gains mean companies need to hire more workers and bump wages

Read more at Bloomberg.