Homebuilder Confidence Falls for Record 10th Straight Month

Builders work on a home under construction in the Briar Chapel community of Chapel Hill, N.C., on June 9, 2015. AP Photo/Gerry Broome

Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month.

Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers.