Stephen Bissaha

The housing market index saw three straight months of gains, but that's now ended.

The index fell two points to 37.

Anything below 50 means an overall negative outlook.

Builders are dealing with rising construction costs and high interest rates.

Most of the builders responded before the Trump administration announced new housing policies, like ordering Fannie and Freddie Mac to buy up $200 billion in mortgage-backed securities to lower mortgage rates.

The average 30-year mortgage is down.

It's just over 6%.

But that's still well above COVID-era rates that make many homeowners reluctant to sell.

Stephen Basaja, NPR News.