Home loan for beginngers
The index measures confidence within the home building industry by surveying 419 home builders. It was at its lowest point since 1985, which is when the index started. The confidence of builders in the industry has been declining for over 2 years. The credit crisis and economic downturn hit home builders particularly hard, due to the resulting rising home foreclosures and significant increase in the inventory of existing homes. In spite of historically low rates for mortgage loans, most experts do not anticipate an increase in interest for new properties in 2009.