January homebuilder sentiment improves, following mortgage rate drop
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois.Scott Olson | Getty ImagesHomebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still considered negative, but the index has now moved 10 points higher in the last two months.Sentiment is now at the highest level since September.The increase coincides with a big drop in mortgage interest rates from around 8% in mid-October to the 6% range in…