Refinance from the beginning
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. Home builder confidence has been waning since May 2006. 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. In spite of historically low rates for mortgage loans, most experts do not anticipate an increase in interest for new properties in 2009.