High interest rates, rising material costs and labor shortages are suppressing US homebuilding, prolonging a housing shortage of more than 4 million homes at the end of 2025, according to Realtor.com. The NAHB/Wells Fargo Housing Index, a gauge of builder confidence, fell to 29 in October, its weakest level in years; readings above 50 indicate more builders see conditions as good than poor. The average 30-year mortgage rate climbed to 7.4% this month, the highest since November 2023, and 43% of builders cut prices in October, the highest share since 2020, while just under two-thirds used sales incentives. Single-family starts fell 4.6% in September from August and are still down 4% so far in 2026. Experts caution that the housing package passed in July, aimed at boosting construction and easing zoning and regulatory burdens, will take years to deliver benefits.
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• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 101.70 |
| Change that session | -0.28% |
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