Home loans discussion
The confidence indicated by the index decreased to a level not seen since the mid 1980s. The confidence of builders in the industry has been declining for over 2 years. Builders were some of the first and most drastically affected by the declining real estate market and crisis in the credit industry, as they struggled to compete with lower prices and the glut of unsold homes. Although mortgage interest rates are very low, demand for new homes is not expected to increase much in the coming year. Many housing experts do not expect the building industry to pick up until 2010.