WASHINGTON (Reuters] – U.S. single-family housebuilders lost confidence in April after rising mortgage rates, snarled supply chains, and increased housing costs. This led to some homebuyers being shut out of the market.

This month, the National Association of Home Builders/Wells Fargo Housing Market index fell two points to 77. Its fourth monthly decrease pushed it down to the lowest level since September 2013. An index reading of 50 or more indicates that builders consider the current conditions to be better than they are.

It is difficult for builders, despite a record-low housing stock, to increase production. This is due to a shortage of materials and the high price of framing lumber. In February, there was an unprecedented increase in the number of homes approved for construction and yet to begin.

A Reuters poll of economists found that March’s homebuilding and housing permits fell. On Tuesday, the March report on housing starts will be available.

In a statement, Jerry Konter, Chairman of NAHB said that policymakers should take proactive measures to address supply chain problems. This will lower the cost and stem the increase in home prices. It also allows builders to grow production.

Data from Mortgage Finance Agency showed that the 30-year fixed-rate mortgage reached 5.0% for the week ended April 14th, an increase of 4.72% from February 2011. Freddie Mac (OTC:). As it combats inflation at its highest levels, further increases can be expected as the Federal Reserve takes an aggressive monetary policy position.

The cost of purchasing a house is rising due to higher prices for building materials and mortgage rates. It’s becoming more difficult to afford a house. House prices are still growing at double-digit rates each year.

From 87 in March, the survey’s gauge of sales conditions dropped to 85 after a seven month low. The survey’s gauge of sales prospects for the six next months increased three points, to 73.

Six points fell in the component that measures traffic from prospective buyers to a low of 60 after eight months.