NEW YORK, Nov 16 (Reuters) - U.S. home builder sentiment declined sharply in November, the National Association of Home Builders reported on Wednesday, responding to sharply lower measures of consumer confidence and rising mortgage rates.
The NAHB/Wells Fargo Housing Market index slid to 60 in November, seasonally adjusted, from October's revised 68. The index is also down from September's reading of 65, which was the lowest reading since July 2003.
The confidence level, however, remains well above the midpoint that indicates the majority of builders still see conditions as positive in their markets, the NAHB said.
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