Homebuilder Sentiment Falls
Economists are expecting the NAHB index to come in at 57, slightly down from September's 58 print. Any reading over 50 means that builders believe conditions are good.
"The pace of housing starts has not been keeping up with increases in sentiment in recent months, and, as a result, we expect sentiment to taper off a bit until we see a stronger pickup in construction activity," Barclays wrote to clients last week.
Since the FOMC's decision to not taper its asset purchasing program in September, mortgage rates have dipped, which may spur some buyers to "pull the trigger," according to Wells Fargo. "However, with increased turmoil in Washington weighing on the outlook, it would not be surprising to see builder confidence dip in October."