NEW YORK, Nov 16 (Reuters) – U.S. home builder confidence weakened in November despite signs of easing mortgage rates that could bolster the outlook into the end of the year, according to a report released Thursday.

The National Association of Homebuilders’ index of builder confidence fell to 34 in November from 40 in October. The six-point fall is the fourth-straight drop in builder confidence, leaving the index at its lowest since December 2022.

Confidence could improve in coming months, however, as mortgage rates that peaked near 8% last month look poised to decline and credit conditions loosen across the economy.

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