Below expectations (Il Sole 24 Ore Radiocor) - Washington, 19 Jun - US builder confidence for newly built, single-family homes fell to 43 in June from 45 in May, according to the National Association of Home Builders/Wells Fargo housing market index.

The reading was below expectations for the index to remain at 45.

'Persistently high mortgage rates are keeping many prospective buyers on the sidelines,' said NAHB Chairman Carl Harris, a custom home builder from Wichita, Kan. 'Home builders are also dealing with higher rates for construction and development loans, chronic labor shortages and a dearth of buildable lots.'.

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(RADIOCOR) 19-06-24 16:08:12 (0513) 5 NNNN