<p>US August homebuilder confidence drops to 39, below all analysts' expectations.
According to Robert Dietz, Chief Economist of the National Association of Home Builders (NAHB), the current data indicates that the Federal Reserve will cut interest rates, and mortgage applications significantly declined in the second week of August.
Both homebuyer interest and developer confidence are expected to improve in the coming months</p>

<p>US August homebuilder confidence fell to 39, below analysts' expectations. NAHB Chief Economist Robert Dietz said the current data indicates the Fed will cut interest rates, with mortgage applications significantly down in the second week of August, expecting homebuyer interest and developer confidence to improve in the coming months</p>

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