Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher 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 .

The decrease follows a 6 -point drop in August .

Current sales conditions fell 6 points to 51 , and sales expectations in the next six months also dropped 6 points.

Buyer traffic dropped 5 points to 30 .