Builder sentiment nudges up; rates at 6.11%
U.S. homebuilder confidence edged up in March but remains low — Reuters reported — while mortgage rates sit near 6.11%, per recent industry analysis noted. The net: fewer moves, more remodels — useful context when customers ask whether to renovate or sell.
The NAHB/Wells Fargo Housing Market Index rose one point to 38 in March, a reading confirmed by the association’s March press release. (nahb.org) All three HMI components increased: the current-sales index ticked to 42, the six‑month sales-expectations index climbed to 49, and the traffic-of-prospective-buyers gauge moved to 25. (nahb.org) The March survey found 37% of builders cut prices, the average price reduction held at 6%, and 64% of builders reported using sales incentives to stimulate demand. (nahb.org) NAHB’s three‑month regional HMI averages showed the Northeast at 44, the Midwest at 43, the South at 35 and the West at 31, highlighting uneven strength across U.S. markets. (nahb.org) Freddie Mac’s Primary Mortgage Market Survey reported the 30‑year fixed-rate mortgage averaged 6.11% for the week ending March 12, 2026 (up from 6.00% the prior week), while the 15‑year averaged 5.50%. (freddiemac.com) Freddie Mac noted purchase applications increased and existing‑home sales rose 1.7% in February, even as NAHB warned “many buyers remain on the fence” awaiting lower rates amid geopolitical and cost headwinds. (freddiemac.com)
