US Home builders’ confidence unexpectedly deteriorated in October. The NAHB housing market index dropped from 19 to 18, while the consensus was looking for a slight improvement (to 20). The NAHB’s chief economist added that builders are experiencing the effects of the expiring tax credit on their sales activity, since it would be virtually impossible at this point to complete a new home sale in time to take advantage of that buyer incentive. In the coming months, it will be interesting to see whether the expiring government incentives will also have their impact on sales. Of course, the Congress might decide to prolong the measures.