Builder confidence moved lower to start the year as affordability concerns continue to weigh heavily with buyers, and builders continue to contend with rising construction costs. Builder confidence in the market for newly built single-family homes fell two points to 37 in January, according to the NAHB/Wells Fargo Housing Market Index (HMI). While the upper end of the housing market is holding steady, affordability conditions are taking a toll on the lower and mid-range sectors. …In a positive development, Freddie Mac reported that the average mortgage rate fell to 6.06% as of Jan. 15, the lowest rate in three years and nearly 100 basis points below the same period last year. …The HMI index gauging current sales conditions declined one point to 41 and the gauge charting traffic of prospective buyers dropped three points to 23. The index measuring future sales fell three points to 49.