Mortgage payment calculator Things to consider
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. Although mortgage interest rates are very low, demand for new homes is not expected to increase much in the coming year. Many housing experts do not expect the building industry to pick up until 2010.