Housing market barometer

A key measure of U.S. homebuilders’ confidence is due out today.

The National Association of Home Builders/Wells Fargo Housing Market Index fell to 77 last month, the fourth decline in a row. A swift rise in mortgage rates, the highest inflation in four decades and surging construction costs have dimmed homebuilders’ optimism. Readings above 50 indicate positive sentiment. Economists project that this month’s builder sentiment index slipped again.