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☆ Huey Lewis and the News Musical Is Coming to Broadway in March
▼ + stars: | 2023-11-01 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: 1 min

“The Heart of Rock and Roll,” a new musical powered by the songs of Huey Lewis and the News, is coming to Broadway in the spring. The show, which had an initial run in 2018 at the Old Globe Theater in San Diego, is a comedy about a couple whose romance must navigate their rock band and corporate life aspirations. The musical is scheduled to begin previews March 29 and to open April 22 at the James Earl Jones Theater. Casting has not yet been announced. Marketed as a “feel-great musical,” the show features the upbeat songs of Huey Lewis and the News, a pop-rock band whose heyday was in the 1980s, and whose hit “The Power of Love” is also featured on Broadway in “Back to the Future: The Musical.”

Persons: Huey Lewis, James Earl Jones, ” Organizations: Broadway, Old Globe Theater Locations: San Diego

Lewis and executive producer Hunter Arnold tell The Associated Press that the jukebox musical “The Heart of Rock & Roll” — constructed from Lewis' songs — will play the James Earl Jones Theatre starting March 2024, capping more than 10 years of gestation. And it has a lot of heart and it’s about love, basically,” Lewis said. “People ask me, ’What’s it about, ”The Heart of Rock & Roll”? They won a Grammy Award, for best music video for “The Heart if Rock ‘n’ Roll,” and “The Power of Love” was nominated for an Academy Award. “It’s wonderfully demanding and wonderfully rewarding, and we’re just happy to have a shot at it.”___Mark Kennedy is at http://twitter.com/KennedyTwits

Persons: — Huey Lewis, Lewis, Hunter Arnold, James Earl Jones, It’s, ” Lewis, “, it’s, ”, Brian Usifer, Jonathan A, Abrams, Hunter, Tyler Mitchell, Kayla Greenspan, There's, Arnold, ” Huey Lewis, —, “ Chicago ”, Billy Flynn, we’re, ” ___ Mark Kennedy Organizations: The News, Associated Press, James Earl Jones Theatre, Globe, “ Sports, Broadway Locations: “ Chicago

A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019. The results from Europe's biggest bank showed the pressure it is under to deliver returns to long-suffering investors now that interest rates worldwide are rising. In the third-quarter results, the lender booked a $500 million impairment related to the commercial real estate sector in mainland China. HSBC's Asia-focused competitor Standard Chartered (STAN.L) reported last week an unexpected one-third plunge in third-quarter profit due to a nearly $1 billion combined hit from its exposure to China's real estate and banking sectors. Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Lim Huey Teng, Jefferies, Joe Dickerson, Selena Li, Lawrence White, Jamie Freed Organizations: HSBC, REUTERS, Barclays, Europe's, Global Banking, Markets, Standard Chartered, Thomson Locations: Kuala Lumpur, Malaysia, HONG KONG, London, Hong Kong, Asia, China

☆ Universal basic income is working — even in red states
▼ + stars: | 2023-10-29 | by ( Michael Venutolo-Mantovani | ) www.businessinsider.com time to read: +14 min

He encourages skeptical taxpayers to look at universal basic income from the same "selfish point of view." Among those who received a basic income in Stockton, California, the unemployment rate dropped by nearly 50%. With more data at hand than theoretical projection, the evidence is overwhelming: Universal basic income is working nearly universally. Promising as these pilot programs are, the chances of a truly universal basic income in America remain remote. As for Tydricka Lewis, basic income afforded her the latitude to start her own nonprofit.

Persons: Tydricka Lewis, she'd, Lewis, North Carolina's, Jack Dorsey, Durham, Dorsey, Mark, Anthony Middleton, Middleton's, it's, Thomas Paine, Huey Long, George McGovern, Andrew Yang, Anna Jefferson, Nick Otto, Jefferson, Middleton, StepUp, UBI, we've, Michael Venutolo, Condé Organizations: North Carolina Central University , Durham, Abt Associates, University of Pennsylvania, Durham's, Excel, KFC, Generation Movement, Durham Bulls, The New York Times, National Geographic, Wired Locations: Durham, North, America, Black, New York City, Denver, Stockton , California, Los Angeles, Baltimore, Columbia, South Carolina, Birmingham , Alabama, Gainesville , Florida, Florida, Gainesville, AFP, Durham County, Washington, Chapel Hill , North Carolina

☆ Why Has This 258-Year-Old Mansion Been Left to Fall Apart?
▼ + stars: | 2023-10-27 | by ( Ginia Bellafante | More About Ginia Bellafante | ) www.nytimes.com time to read: +2 min

Since then, millions more have been needed from elected officials to complete the work. The notion that “the board has been lax in passion is the farthest thing from the truth,” Lisa Koenigsberg, an architectural historian and the board’s chair told me. I understand the frustration and the sadness over the building,” she said. The building is the city’s responsibility.” This is a curious response in a place where public-private partnerships make most of our cultural life possible. When the preservation movement took hold in New York in the early 1960s, the goal was to prevent beautiful buildings from being destroyed.

Persons: ” Lisa Koenigsberg, Camilla Huey, Aaron Burr, Theodosia, “, ” Organizations: Parks Department Locations: New York

☆ As mortgage rates hit 8%, home 'affordability is incredibly difficult,' economist says
▼ + stars: | 2023-10-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Lifestylevisuals | E+ | Getty ImagesHow home affordability has changedIn August 2020, the typical monthly mortgage payment was $1,581, based on an average interest rate of 2.94%, Redfin found. Nowadays, the typical U.S. homebuyer's monthly mortgage payment is $2,866, according to Redfin — an all-time high. "In the next year or two years, interest rates will be lower, and people will have the ability to refinance." That said, competition for homes on the market is likely to be worse in a few years as interest rates cool, she said. "When interest rates come down, everyone's going to come back to the marketplace," said Cohn.

Persons: Redfin, homebuyers, Mark Hamrick, Alicia Huey, Melissa Cohn, William Raveis, Cohn Organizations: Bankrate.com, Istock, Federal Reserve, CNBC, William Raveis Mortgage Locations: U.S, Birmingham , Alabama, New York

The report reflects the uneasy state of new construction, with builders facing the strain of high mortgage rates and increased costs for building materials. “To keep buyers interested, many builders have been offering upgrades or buying down mortgage rates, but rising home prices coupled with mortgage rates approaching 8% means there will be fewer buyers in the market to entice,” Bright MLS Chief Economist Lisa Sturtevant said. It is the week’s second report on the state of the new housing market. On Tuesday, the National Association of Home Builders/Wells Fargo Housing Market Index revealed that builder confidence fell for the third consecutive month in October. "Today’s September housing starts report reflects the fragility of the real estate market,” said Travis Hodges, managing director at insurance broker VIU by HUB.

Persons: “, ”, Lisa Sturtevant, Alicia Huey, Travis Hodges Organizations: Census Bureau, Department of Housing, Urban Development, MLS, National Association of Home Builders, National Association of Realtors Locations: Wells Fargo, Birmingham , Alabama, Florida, California

☆ Homebuilder sentiment drops to 10-month low, as mortgage rates soar
▼ + stars: | 2023-10-17 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Builder confidence in the market for single-family homes dropped to the lowest level since January, as builders contend with a market dominated by high mortgage rates and costs for financing. The monthly National Association of Home Builders/Wells Fargo Housing Market Index dropped 4 points to 40 in October, and September's read was revised down 1 point. Builders point squarely to mortgage rates, which are now at a 23-year high. Regionally, on a three-month moving average, builder sentiment in the Northeast fell 4 points to 50 and in the Midwest dropped 3 points to 39. In the South it fell 5 points to 49, and in the West it fell 6 points to 41.

Persons: September's, Alicia Huey, Robert Dietz, NAHB's Organizations: National Association of Home Builders, Builders, Midwest, CNBC Locations: Wells Fargo, Birmingham , Alabama, West

☆ Homebuilder confidence drops to the lowest in 10 months as high mortgage rates freeze the housing market
▼ + stars: | 2023-10-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Stubbornly high mortgage rates have taken a toll on builder sentiment, the group said. AdvertisementAdvertisementHomebuilder confidence just plunged to its lowest mark in 10 months, the National Association of Home Builders announced on Tuesday. The group cited stubbornly high mortgage rates as the primary drag on confidence. On Tuesday, rates on the 30-year fixed mortgage hit 7.92%, according to Mortgage News Daily's index. Buyers and sellers alike have largely been kept on the sidelines as mortgage rates hover near multi-decade highs and moving homes looks unattractive.

Persons: —, Alicia Huey, Robert Dietz, Dietz Organizations: Service, National Association of Home Builders, Market, Mortgage, Builders, Federal Locations: Wells Fargo

The pace of new construction slowed in August amid high mortgage rates and weakening demand, the federal government reported on Tuesday. Housing starts fell 11.3% in August to an annual rate of 1.28 million, the lowest since the summer of 2020. Builders typically pull permits in anticipation of demand, but housing starts occur when lots are ready to be cleared following deposits on future purchases. “The combination of high interest rates, high pricing, and limited inventory has continued to plague the housing market. “And on the supply-side front, builders continue to grapple with shortages of construction workers, buildable lots and distribution transformers, which is further adding to housing affordability woes.

Persons: ”, Kelly Mangold, Alicia Huey, Ksenia Potapov Organizations: Housing, Real Estate Consulting, National Association of Home Builders, First American Financial Corp, “ Locations: Birmingham , Alabama

☆ Homebuilder confidence continues to be weighed down by high mortgage rates
▼ + stars: | 2023-09-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Home builder confidence took a hit in September as average mortgage rates for a 30-year fixed-rate loan stayed above 7%. “The two-month decline in builder sentiment coincides with when mortgage rates jumped above 7% and significantly eroded buyer purchasing power,” said Alicia Huey of the NAHB. All three dimensions of the new housing market evaluated saw declines in September: The index gauging current sales conditions fell six points to 51. “High mortgage rates are clearly taking a toll on builder confidence and consumer demand, as a growing number of buyers are electing to defer a home purchase until long-term rates move lower,” said Robert Dietz, NAHB Chief Economist. As mortgage rates stayed above 7% over the last month, more builders cut prices to boost sales, according to NAHB.

Persons: ”, Alicia Huey, Huey, Robert Dietz, That’s Organizations: DC CNN —, National Association of Home Builders, “, NAHB Locations: Washington, Wells Fargo

☆ Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates
▼ + stars: | 2023-09-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. Current sales conditions fell 6 points to 51, and sales expectations in the next six months also dropped 6 points to 49. Builders cite weaker affordability due to higher mortgage rates. While builders are still benefiting from the lack of supply on the existing sales market, they are also facing hurdles other than higher interest rates.

Persons: Robert Dietz, NAHB's, Alicia Huey Organizations: National Association of Home Builders, Builders Locations: Wells Fargo, Birmingham , Alabama, Midwest, West

☆ ‘That’s Valor’: Biden Awards Medal of Honor to Vietnam-Era Army Pilot
▼ + stars: | 2023-09-05 | by ( Michael D. Shear | More About Michael D. Shear | ) www.nytimes.com time to read: +1 min

The four American soldiers were pinned down in June 1968, taking intense fire from the enemy near the hamlet of Ap Go Cong in Vietnam. The large Huey helicopter sent to rescue them had abandoned its attempt, citing the great likelihood of failure. On Tuesday, President Biden awarded Mr. Taylor the Medal of Honor at the White House, citing his “conspicuous gallantry” for rescuing the soldiers “under heavy enemy fire and with complete disregard for his personal safety” more than five decades ago. “That’s valor. That’s valor,” Mr. Biden said before draping the medal around Mr. Taylor’s neck in the East Room.

Persons: Larry L, Taylor, Biden, ” Mr, draping, Taylor’s, ” Organizations: Huey, White Locations: Ap Go, Vietnam

☆ US home builders ramped up construction in July, beating expectations
▼ + stars: | 2023-08-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Housing starts, a measure of new-home construction, climbed to a seasonally adjusted annual rate of 1.452 million in the month, beating market expectations of 1.448 million, according to data released Wednesday by the Census Bureau. “Buyers embraced new homes in the first half of this year as a welcome alternative to the massive shortage of existing homes,” Ratiu said. The slight increase in starts suggests builders have some optimism, she said, though it remains to be seen what future mortgage rate increases may mean for the market. “In many cases, even repurchasing their same home at today’s mortgage rates would be out of a typical buyer’s price range.”Mortgage rates are hovering around 7% and interested buyer traffic is slowing down for some builders. The National Association of Home Builders/Wells Fargo Housing Market Index, released Tuesday looks at current sales, buyer traffic and the outlook for sales of new construction homes over the next six months.

Persons: George Ratiu, “ Buyers, ” Ratiu, “ Homebuilders, ”, “, eeking, Kelly Mangold, ” Mangold, Alicia Huey, Warren Buffett’s Berkshire Hathaway, LEN, Horton Organizations: DC CNN, Housing, Census, “, West, Real Estate Consulting, National Association of Home Builders Locations: Washington, Midwest, West, Wells Fargo, Lennar

☆ Homebuilder sentiment drops sharply, as mortgage rates surge over 7%
▼ + stars: | 2023-08-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Rising mortgage rates are hitting potential homebuyers hard, and that is taking steam out of the homebuilding market. That is the first decline in seven months and the lowest level since May, when sentiment first rose out of negative territory. Mortgage rates are now holding solidly over 7%, hitting 7.24% Monday, according to Mortgage News Daily. Higher mortgage rates and the decline in buyer activity has more builders using sales incentives once again. The share of builders using all types of incentives, including buying down interest rates, rose to 55% in August from 52% in July.

Persons: Alicia Huey, NAHB, Robert Dietz, NAHB's Organizations: National Association of Home Builders, Mortgage News Locations: Wells Fargo, Birmingham , Alabama, Midwest

☆ Construction of new homes fell 8% in the US last month
▼ + stars: | 2023-07-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Builders are benefiting from the lack of existing homes for sale as owners hunker down, but higher mortgage rates pose a threat, said Odeta Kushi, deputy chief economist at First American Financial Corporation. Holding household income constant, the increase in mortgage rates reduced home-buying power by approximately $10,000, Kushi said. “There remains pent-up demand in the housing market, but higher rates put a strain on affordability,” said Kushi. Builders remain ‘cautiously optimistic’Builder confidence remains high despite concerns about rising rates. The National Association of Home Builders/Wells Fargo Housing Market Index gauges market conditions and looks at current sales, buyer traffic and the outlook for sales of new construction homes over the next six months.

Persons: ”, Robert Frick, “, it’s, Odeta Kushi, Freddie Mac, Kushi, Alicia Huey, Robert Dietz, Dietz Organizations: DC CNN, Housing, Census, Navy Federal Credit Union, First American Financial Corporation, National Association of Home Builders, NAHB, Federal Reserve, Builders Locations: Washington, Wells Fargo

☆ What Pan Am flight attendants did next
▼ + stars: | 2023-07-17 | by ( Annita Thomas | ) edition.cnn.com time to read: +13 min

Pan Am has always been synonymous with glamor, and its flight attendants lived their opportunities to the max. Pan Am flight attendants doubled as ambassadors for the airline. Seven former Pan Am flight attendants tell us where they ended up. Memories live on, with many of us becoming members of World Wings International, a non-profit organization of former Pan Am flight attendants. Other former Pan Am flight attendants have unique ways of honoring the airline.

Persons: CNN —, Pan, ”, Camille Lewis, Camille Lewis Camille Lewis's, Camille Lewis’s, Mother Teresa, primatologist Jane Goodall, Michèle Bennett, ‘, Doc ’ Duvalier, Camille, Phillip Keene Phillip Keene, Phillip Keene, Keene, Andrew Eccles, John Gielgud, Tracey Ullman, hairstylist Vidal Sassoon, Huey Lewis, –, “, Buzz Watson, Karren Pope, Onwukwe, Susan L, Taylor, Coretta Scott King, Don King, James Brown, Linda Reynolds, Reynolds, Walter Cronkite, ” Reynolds, Joe, ” Penny Powell Penny Powell, Penny Powell, Powell, Elena Williams Elena Williams, Elena Williams, Williams, John F, Kennedy, Jr, “ I’m Elena Sugarman, ” Annita Thomas Annita Thomas, Annita Stokes Thomas I, jetsetting, I’d, Thomas, Annita Stokes Thomas, William Tolbert, Kurt Strumpf, David Hinson, David Jeffery, Oprah’s, Linda Little Freire, Pan Amer Organizations: CNN, Pan American World Airways, Boeing, Pan, LA, Hollywood, JFK, “ Clippers, JFK Jr, Metropole Hotel, Roberts, Pan Am, “, World Wings, Pan Am Museum Foundation Locations: Rome, Rio, Pakistan, Rio de Janeiro, Nairobi, Caesar’s Beach, Liberia, Saudi Arabia, Haiti, New York, Paris, Los Angeles, California, London, Amsterdam, Switzerland, Italy, Ireland, Dakar, Senegal, La Guardia, Pan, Maryland, Pan Am, Dhahran, Vietnam, Spanish, Chicago, Memphis, Tokyo, West, East Africa, South Georgia, JFK, Narita, Georgia

☆ Homebuyers rejoice: There are more homes coming soon to a neighborhood near you
▼ + stars: | 2023-06-20 | by ( Alcynna Lloyd | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Housing starts — also known as new home construction — rose at the fastest monthly rate since 2016. As the Fed pauses its rate hikes, mortgage rates are trending lower and consumer sentiment is rising. Between April and May, housing starts rose by the fastest month-over-month rate since 2016. Single-family housing starts increased 18.5% to a seasonally adjusted annualized rate of 997,000 and multi-family housing starts climbed 27.1% to an annualized 634,000 pace. However, as the Fed adjusts its monetary policy and pauses its rate hikes, mortgage rates are trending lower and more homebuyers are returning to the market.

Persons: —, Alicia Huey, Robert Dietz, NAHB, bode, Dietz, it's Organizations: Housing, Service, Census Bureau, Bloomberg, Federal, Builders, National Association of homebuilders, National Association of Home Builders, Federal Reserve Locations: Wells Fargo

☆ US home construction surged in May by the fastest pace in more than a year
▼ + stars: | 2023-06-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —US home building surged in May, climbing 21.7% from April, as low inventory in the existing home market continued to boost interest in new homes. Housing starts, a measure of new home construction, came in far beyond expectations that they would decline by 0.1%, according to data released Tuesday by the Census Bureau. The number of single‐family units rose in May to 1.631 million, above expectations for 1.40 million and above the revised April estimate of 1.34 million. Building permits, which track the number of new housing units granted permits, also rose in May, after dropping in March and April. The National Association of Home Builders/Wells Fargo Housing Market Index gauges market conditions and looks at current sales, buyer traffic and the outlook for sales of new construction homes over the next six months.

Persons: ”, Robert Dietz, ” Dietz, Alicia Huey Organizations: DC CNN, Housing, Census, National Association of Home Builders, Federal Reserve Locations: Washington, Wells Fargo

☆ New US home construction surges by most in 3 decades in May
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +3 min

Housing starts rose to a seasonally adjusted annual rate of 1.631 million units last month from April's downwardly revised 1.34 million, the Commerce Department said on Tuesday. May's rate was the highest since April 2022, which was then the highest since 2006. Starts rose by double-digit margins in the South, Midwest and West while declining by nearly 19% in the Northeast. Permits for future construction, for instance, rose 5.2% to the highest since October at 1.491 million units, led by a 27.1% surge in the Northeast. Permits for single-family projects rose 4.8% while multi-family were up 7.8%.

Persons: April's, Ben Ayers, Alicia Huey, Dan Burns, Conor Humphries, Andrea Ricci Organizations: Federal Reserve, Housing, April's downwardly, Commerce Department, Reuters, Nationwide, National Association of Home Builders, Mortgage, Association, Thomson Locations: South, Midwest, West, Wells Fargo

☆ Review: In ‘This Land Was Made,’ Huey Newton Walks Into a Bar
▼ + stars: | 2023-06-07 | by ( Jesse Green | ) www.nytimes.com time to read: +1 min

In Oakland, Calif., in 1968, Huey P. Newton, the Black Panther leader, was convicted of killing a white police officer. In 1971, after two more trials and nearly two years in prison, he was cleared of all charges. That’s the question at the heart of “This Land Was Made,” the gutsy but murky new play by Tori Sampson at the Vineyard Theater. Most successful is the sitcom element, which could be titled “Trish’s,” an Oakland bar where everybody knows your name. For about 25 minutes, Sampson serves up something warm and piquant at Trish’s: an interplay of zingers, flirtations, spats and politics.

Persons: Huey P, Newton, Tori Sampson, Taylor, ”, Trish, Pugh, Antoinette Crowe, Sampson, Sassy, Matthew Griffin, Gail, Yasha Jackson, Drew, Leland Fowler, Ezra Knight Organizations: Panther, Vineyard, Mr Locations: Oakland, Calif, Libya, New Orleans, Trish’s, Troy

☆ For Her New Play, Tori Sampson Revisited Her ‘Black Power Household’
▼ + stars: | 2023-06-02 | by ( Naveen Kumar | ) www.nytimes.com time to read: +1 min

After a year of moving between foster homes, the twins petitioned to attend an all-Black boarding school in Mississippi, where their independence was contingent on high achievement. “I was always yearning to understand what it would look like to have a family,” Sampson said. “I wanted to write a story where Huey P. Newton walks into a bar and changes the lives of the people there forever,” Sampson said of the Black Panther Party co-founder. She got the idea for the play, a blend of historical fiction and sitcom conventions, when she learned that Newton’s rise to prominence began with an unsolved mystery. Rallies ‌to “Free Huey” helped set off the Black Power movement.

Persons: orphanhood, Sampson, ”, “ I’m, “, ” Sampson, Huey, Newton, ‌ Newton, Huey ” Organizations: “, Black Panther Party Locations: Mississippi, Los Angeles, “, Oakland, Calif

☆ Jim Brown, legendary NFL running back, dead at 87
▼ + stars: | 2023-05-19 | by ( Bill Trott | ) www.reuters.com time to read: +7 min

[1/2] Former NFL football player Jim Brown speaks after meeting with U.S. President Donald Trump at the White House in Washington, U.S., October 11, 2018. Brown led the NFL in rushing in eight of his nine seasons and was voted the league's most valuable player four times. "I didn't retire because I was broken down and slow," Brown told Sports Illustrated in 2015. "I was basically a proponent of economic development as a way to equality, social equality," Brown told the Cleveland Plain Dealer in 2013. The NFL this year honored Brown by renaming the league's rushing title the Jim Brown Award.

☆ New home construction rose in April after a dip in March
▼ + stars: | 2023-05-17 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

However, housing starts, a measure of new home construction, were down 22.3% from a year ago, according to data released Wednesday by the Census Bureau. After surging in February following five consecutive months of falling, housing starts fell in March. Single‐family housing starts in April rose 1.6% from the revised March figure, at a seasonally adjusted annual rate of 833,000. Building permits, which track the number of new housing units granted permits, fell in April after also dropping in March. Building permits were down in the Northeast and Midwest, but climbed in the South and West.

☆ Homebuilder sentiment pulls out of negative territory for the first time in nearly a year
▼ + stars: | 2023-05-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

It's the fifth straight month of gains and the first reading of builder sentiment since July that wasn't negative, which would be a reading below 50. With mortgage rates now double what they were a year and a half ago, some potential sellers may be reluctant to trade to another home at a higher rate. Homebuilders also drew more buyers by offering incentives, like buying down mortgage rates. Sentiment in the Midwest rose 2 points to 39. In the South, it increased 3 points to 52, and in the West moved 3 points higher to 41.

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