Homebuilder sentiment misses expectation in August

Builder sentiment in the single family housing market dropped one point to 32 in August on the NAHB index. The street was looking for a onepoint gain. Anything below 50 is considered negative.Last August it stood at 39. Now the builders pointed to elevated mortgage rates, weak buyer traffic, and ongoing supply side challenges. Mortgage rates though actually came down nearly a quarter point from the end of July to the first few weeks of August.But that clearly didn't help much. Now, of the index's three comp ...