BUILDER CONFIDENCE SINKS TO 14-YEAR LOW

US homebuilder sentiment sank to 29 in October, down from 32 in September and the lowest reading since June 2012, as mortgage rates climbed above 7%. Builders are now cutting prices at the fastest pace in six years, with 43% slashing listings just to move inventory. The $ITB homebuilders ETF tracks a sector where the hit is landing directly on margins.