Builder confidence fell sharply in April as rising costs and economic uncertainty weighed on sentiment heading into the spring buying season. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) dropped four points to 34 , its lowest level since September 2025. The decline marks a notable setback after modest gains in recent months, with sentiment remaining firmly below the breakeven level of 50 that separates positive from negative market conditions. All three major components of the index moved lower. The gauge of current sales conditions fell four points to 37 , while the index measuring future sales expectations dropped seven points to 42 . The component tracking prospective buyer traffic declined three points to 22 , reflecting continued softness in demand. “Builder sentiment has fallen back in spring as buyers face ongoing elevated interest rates and growing economic uncertainty,” said NAHB Chairman Bill Owens. He added that geopolitical risks and rising energy costs have further dampened confidence and slowed expected momentum in the housing market. NAHB Chief Economist Robert Dietz pointed to increasing pressure from higher fuel prices, noting that a majority of builders are seeing rising material costs as a result. He also highlighted that uncertainty around input costs is making it more difficult for builders to price homes, adding another layer of strain on the market.

April 17, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% -0.03%   5.99% 7.08% 15 Yr. Fixed 5.91% -0.05%   5.55% 6.39% 30 Yr. Jumbo 6.52% -0.02%   6.1% 7.15% Compare Mortgage Rates from Local Lenders for Apr 17, 2026 Lowest Rates in Over a Month Despite Small Move Today Fri, Apr 17, 2026 4:06PM Today was a victory for mortgage rates, but not nearly as much of a victory as the underlying bond market would suggest. The good news is that the end result is the lowest average 30yr fixed rate in just over a month.  The other news isn't bad, per se, but it is a bit confusing.  As we often discuss, mortgage rates are based on bonds because mortgages "turn into" bonds in order to be traded on the secondary market. You don't need to understand that process in detail to accept that it's true.  Case in point, here's a chart* that overlays our average 30yr fixed rate and the most... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% -0.03 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 5.88% 0.00 0.00 30 Yr. Jumbo 6.52% -0.02 0.00 7/6 SOFR ARM 5.91% -0.07 0.00 30 Yr. VA 5.89% 0.00 0.00 Updates Daily - Last Update: 4/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.07 0.00 15 Yr. Fixed 5.65% -0.09 0.00 Updates Weekly - Last Update: 4/16 Mortgage Bankers Assoc. 30 Yr. Fixed 6.51% -0.06 0.61 15 Yr. Fixed 5.90% +0.01 0.74 30 Yr. Jumbo 6.54% -0.05 0.35 Updates Weekly - Last Update: 4/8 UMBS 30YR 5.0 99.50 +0.30   95.71 100.50 UMBS 30YR 5.5 101.09 +0.17   98.11 101.64 10 YR Treasury 4.247 -0.069   3.948 4.590 Why Are Bonds Surging This Morning? Fri, Apr 17, 2026 9:20AM Bonds were modestly and inconsequentially stronger in the overnight session. By 8am, this brought 10yr yields just under 4.30%.  Less than an hour later, yields fell to 4.23 and MBS rose over 3/8ths of a point on a trio of headlines. The first was a detail from a proposed plan to end the war (involving unfreezing Iranian assets in exchange for Uranium).... (read more) MBS Price Change UMBS 4.5 97.46 +0.43 UMBS 5.0 99.50 +0.30 UMBS 5.5 101.09 +0.17 GNMA 4.5 97.56 +0.27 GNMA 5.0 99.88 +0.08 GNMA 5.5 100.99 -0.06 Pricing as of: 4/18 7:47AM EST US Treasury Yield Change 2 YR Treasury 3.704 -0.073 5 YR Treasury 3.836 -0.085 7 YR Treasury 4.042 -0.064 10 YR Treasury 4.247 -0.069 30 YR Treasury 4.910 -0.023 Pricing as of: 4/18 7:47AM EST Other News Builder Sentiment Drops to Seven-Month Low in April Fri, Apr 17, 2026 2:17PM Builder confidence fell sharply in April as rising costs and economic uncertainty weighed on sentiment heading into the spring buying season. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) dropped four points to 34 , its lowest level since September 2025. The decline marks a notable setback after modest gains in rec... (read more) Mortgage Application Demand Finally Bounces Fri, Apr 17, 2026 2:13PM Mortgage applications ticked higher last week, reversing recent declines as easing rates provided a modest boost to activity. The Mortgage Bankers Association (MBA) reported a 1.8% increase on a seasonally adjusted basis for the week ending April 10. Refinance activity led the gain, with the Refinance Index rising 5% from the previous week and now sitti... (read more) Dark Matter Changes; Mfg. DPA, QC, AI, Data Decisioning Tools; A Strained Housing Market; Insurance/Climate Interview Fri, Apr 17, 2026 11:10AM The MBA's National Advocacy Conference in DC wrapped up this week, and any time you have a gaggle of mortgage personnel in one place, talk in the hallways inevitably turned to current market conditions. For example, servicing rights have increased in value, and MSR trading multiples are in the mid 5x range for certain cohorts (markedly higher than the 4x1 va... (read more) Latest Video Fed's Miran: Even before war, underlying inflation getting problematic New York Fed President Williams worries war will slow growth, aggravate inf... Fed's Beige Book: Economic activity increased at slight to moderate pace in... March industrial production falls 0.5%, missing estimates Around the Web CNBC Iran declares Strait of Hormuz completely open to commercial traffic during Israel-Lebanon ceasefire Eye on Housing Count of Second Homes Declines in 2024 MBA MBA Statement on Tri-Merge Costs CNBC Fed Governor Waller says Iran war and labor market risks are keeping central bank on hold BLS Producer prices increased 4.0 percent over the year ended March 2026 Investing Live Fed's Daly: Businesses cautiously optimistic CNBC U.S. Treasury yields steady as traders monitor Middle East de-escalation European Central Bank (EBB) ECB keeps markets guessing on rates with two weeks to go, warns of layer cake of shocks Investing Live US initial jobless claims 207K vs 215K expected Eye on Housing Young Adults Report More Interest in the Construction Trades: 2026 Survey Investing Live US March industrial production -0.5% vs +0.1% expected CNBC CNBC Daily Open: Israel and Lebanon's 10-day ceasefire takes effect Philadelphia Fed Manufacturing Business Outlook Survey

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