See the full story in the original article.
Original headline: Builder confidence hits 14 - year low as mortgage rates top 7 %
Read the original on mpamag.com ↗
Keywords
housingmortgagesinterest ratesUS
Open a keyword to see other news on the same topic.
Related tickers and likely impact
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 101.78 |
| Change that session | -0.20% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- US homebuilder sentiment tumbles to near 14 - 1 / 2 - year low in October
The NAHB/Wells Fargo Housing Market Index fell three points to 29 in October, its lowest level since June 2012 and below the 31 economists had forecast. Builders blamed the Middle East conflict, which pushed mortgage rates higher, with the 30-year fixed rate averaging 7.40% last week, the highest in nearly three years, as well as labor shortages from an immigration crackdown and higher costs from tariffs. The share of builders cutting prices rose to 43%, the highest of the 2020-2026 period, while 65% used sales incentives. Buyer traffic fell five points to 18, its lowest since April 2012 excluding the pandemic's onset, as higher mortgage rates, elevated construction costs and weaker consumer confidence kept buyers on the sidelines.
- Boston Home Sales Are Falling Through . Dont ( Only ) Blame Interest Rates
Redfin data show 368 homes returned to the Greater Boston market in September after deals fell through, a 12.4% year-over-year rise, with 11.4% of all deals collapsing, up 2.3 percent from September 2025. Mortgage rates have climbed, with the national 30-year average at 7.4% according to Freddie Mac, straining affordability, though experts say other forces are also at work. Buyers typically pause after rate increases before returning, and rising inventory has put pressure on sellers, with 2,072 listings cutting prices in September, up 26.4%, and 26.3% of listings offering concessions in August. Buyers now have more leverage to negotiate price, credits and inspections, and a Waltham-based Realtor says now is the optimal time to buy.
- Average long - term US mortgage remains at highest level in nearly 3 years
Freddie Mac reported the average 30-year fixed mortgage rate held at 7.40% this week, its highest since Nov. 16, 2023, ending a seven-week climb but up from 6.27% a year ago. The 15-year fixed rate eased to 6.71% from 6.73%. Rates have risen since late February, when the U.S. war with Iran began and pushed up oil prices and inflation, while the 10-year Treasury yield pulled back to 5.10% from above 5.30%, still well above 3.97% before the war. A 1.42-point rise translates to about $376 more per month on a $400,000 loan, and markets now see a 64.6% chance of a Fed rate hike in December, up from 49.9% a month ago.
- US Homebuilder Confidence Crashes To 14 Year Low , Blame Mortgage Rates & Immigration
The NAHB Housing Market Index fell to 29 in October from 32 in September, below the expected 31 and at a 14-year low, as mortgage rates, energy and material costs, and labor and lot conditions worsened. All three HMI indices declined, and buyer traffic fell to its lowest level since April 2012, excluding the pandemic onset. Mortgage rates have climbed above 7%, and 43% of builders cut prices in October, the highest share in the 2020–2026 period, while 65% used sales incentives. More than one-third of builders reported immigration enforcement activity in their markets, causing construction delays and discouraging legal workers. The gap between current mortgage rates (7.5%) and the average mortgage held by homeowners (4.33%) is trapping both sellers and buyers.
- Mortgage rates forecast: Will fixed deals fall by Christmas?
- What Are VA Loan Rates Today, Oct. 19, 2026, and the Best Lenders
The 30-year fixed rate for VA loans is 6.92% today according to Optimal Blue, slightly higher than on Thursday. VA loans, which are backed by the U.S. Department of Veterans Affairs, require no down payment, carry lower rates than conventional loans, and generally avoid private mortgage insurance when less than 20% is put down. The article recommends Veterans United for customer service, Navy Federal for consistently low VA rates and a $250 fee to lower a rate without refinancing, and Rocket Mortgage for its strong website, app and remote closing options.
Related markets
Latest news
- Zinc and lead prices surge, and one stock hits its ceiling price after 14 sessions with almost no trading
TMG shares of Kim loại màu Thái Nguyên (Vimico) rose 15% to VND 74,700 per share on 19/10, their highest level in over 7 months, although only 1,400 shares changed hands after 14 sessions with almost no trading. In Q3/2026, net revenue reached VND 443 billion (up 69%) and after-tax profit reached VND 67 billion, four times the year-earlier level, driven by higher prices for zinc ingots, lead concentrate and sulfuric acid. For the first nine months, after-tax profit reached VND 149 billion (up 187%), while total financial debt fell from VND 83 billion to VND 44 billion. TMG will pay a 2026 interim cash dividend at 30% (VND 3,000 per share), with a last registration date of 22/10/2026 and total payments of about VND 54 billion expected on 30/10/2026. Vimico holds 51% of charter capital and is expected to receive about VND 27.54 billion.
- More than US$1 billion set to flow into stocks: has the time to deploy arrived?
BSC (BIDV Securities) maintains that valuations across many sectors have become more attractive, making now a reasonable time to allocate to stocks for the medium to long term. Market-wide profits rose 50% year on year in Q2 2026, and BSC raised its 2026 profit growth forecast to 26% and expects 12% growth in 2027. The VN-Index's trailing 12-month P/E, excluding the Vingroup group, is 10.5x, while the 2027 forward P/E is about 9.5x, a discount of nearly 30% to the average. Liquidity remains the main bottleneck, though banking-system liquidity pressure has begun to ease and the probability of rate cuts in 2027 has risen. Foreign outflows are expected to ease, with about VND 33,000 billion (US$1.27 billion) of inflows from the market upgrade expected mainly in 2027.
- One securities firm's Q3 profit unexpectedly 'evaporates' by 98% year on year
CTCP Chứng khoán DSC (DSC) reported Q3/2026 operating revenue of nearly VND 161 billion, down 38%, leaving pre-tax profit at just VND 4.2 billion, down 98%. The main cause was proprietary trading: gains from selling FVTPL financial assets dropped over 99% to about VND 604 million, while revaluation losses reached VND 55 billion. Operating expenses rose 93% to VND 75 billion, and financial expenses climbed 67% to VND 69 billion, all of which was interest expense, while brokerage revenue fell 64% to VND 15 billion. For the first nine months, pre-tax profit reached VND 97 billion, down nearly 67%.
- Securities companies' update as of morning 20/10: Q3 financial reports pour in, and several major names unexpectedly report profit declines
As of the morning of 20/10, 31 securities companies had released their Q3/2026 financial statements with mixed results, and some saw profits drop 80-98% year on year. VIX reported Q3 pre-tax profit of about VND 192 billion, down 94%, as gains from selling FVTPL assets fell sharply, revaluation losses reached nearly VND 1,363 billion, and operating expenses rose to over VND 1,744 billion. BVSC's pre-tax profit was about VND 20 billion, down 80%, while ABS rose 552% to VND 376 billion, driven by FVTPL gains of nearly VND 412 billion. KIS edged up 2% to VND 248 billion on lower costs, while BMS and AIS swung to losses of over VND 63 billion and about VND 3 billion, respectively.
- Securities firm names 2 companies directly benefiting from proposed fertilizer export tax cut
MBS views the Ministry of Finance's proposal to cut export tariffs on urea, superphosphate and sulphate of potash (SOP) from 5% to 0% as a positive factor for the fertilizer sector, though the effective date has not yet been set. Đạm Cà Mau (DCM) is seen as the biggest beneficiary, with estimated savings of about VND 203 billion per year (9.2% of 2025 pre-tax profit), as urea accounted for about 59.7% of its sales volume in the first eight months of 2026. Đạm Phú Mỹ (DPM) is estimated to save about VND 93 billion per year (6.9%), a smaller benefit than DCM. LAS's benefit is limited, DDV does not benefit directly, and BFC could face cost pressure if domestic urea prices rise.
- Why Palantir Technologies Stock Rallied Today
Palantir Technologies (PLTR) shares rose sharply on Monday morning, reaching as much as 5.9% and still up 5.5% as of 12:19 p.m. ET. The catalyst was a new partnership with Knox Systems, a managed federal and Department of Defense cloud provider, which aims to help customers gain FedRAMP acceptance faster and deploy Palantir's data and AI platform in secure government environments. The article notes that concerns about AI adoption had weighed on the stock, which trades at 83 times next year's expected earnings. However, given Palantir's triple-digit profit growth, its PEG ratio is 0.5.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.