US Homebuilder Sentiment Reaches New High in April.

Homebuilder sentiment in the US housing market rose to 45 in April, the highest level since September, due to declining mortgage rates and low inventory. However, the index still points to a slump in the housing sector ahead of the pivotal spring-selling season. The interest rate-sensitive housing market has borne the brunt of the Federal Reserve's aggressive campaign to tighten policy and slow the economy. Despite this, demand has shown early signs of returning as mortgage rates fall from a record high of 7.08% in November, and limited inventory has also bolstered demand this month.