Homebuilder stocks rise after Fed projects three interest rate cuts this year

Data provided by State Street Global Advisors SPDR shows that homebuilder stocks have gained above market performance over the last year, returning 82% compared to the S&P 500 Index’s 39% return since the end of 2022 to today.

Rates on the 30-year mortgages have been hovering around 7%, significantly higher than the 3% seen during the pandemic-era. “That economic resilience has helped homebuilders’ bottom line. The industry grew earnings by 14% versus the broader markets flattish growth of around 1%,” Bartolini said.With expectations that the Fed could reduce its policy rate, KB Home plans to lower its mortgage incentives for the year, something theSEATTLE — Tricia McLean, the chief financial officer for the Seattle Storm, has died following a medical emergency, the WNBA team said Thursday. She was 61. McLean died Monday, the team said.

-- The company planning to take Trump Media & Technology Group public sued to force its biggest investor, ARC Global Investments II, to vote in favor of the deal before a critical deadline this week.

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Why the Fed is still watching the labor market: Frmr Kansas City Fed Pres.US Equities (^GSPC, ^DJI, ^IXIC) are trading higher on Thursday as the market reacts to the Federal Reserve's updated Summary of Economic Projections. The...
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HCRA Catches Besmirched Homebuilder In “Ploy” To Stay In BusinessZakiya is a staff writer with STOREYS. She has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
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