Housing market: Mortgage rates bear down on homebuilder stocks

. Mortgage rates have been at the root of many problems afflicting the US housing market and now they are starting to take a toll on homebuilder stocks; things could get even uglier as rates consistentlyspecial coverage this week, Wedbush Securities Equity Research SVP Jay McCanless describes the rate environment as having"gone from being pretty benign" at 2024's start to"much more negative now than we would've expected.

"The group is carrying less debt than it was five years ago and especially ten years ago. They are building the homes certainly more efficiently than they were back then, but at the same time, it comes down to monthly payment and the builders, I think they've done a good job of trying to shrink the size of the homes that they're building, reduce the amenities that they're putting especially in some the starter homes," McCanless says.

If You’d Invested $5,000 in Brookfield Renewable Partners Stock in 2023, This Is How Much You Would Have Today

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Homebuilder stocks slide as high mortgage rates stifle April confidence readingHomebuilder stocks fell on Monday after a closely watched housing sentiment index broke a four-month streak of gains amid high mortgage rates.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Homebuilder stocks close lower on weak housing starts dataHomebuilder stocks such as D.R. Horton (DHI), Toll Brothers (TOL), and Lennar (LEN) closed lower after disappointing housing starts data.  Yahoo...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Housing market settling into 'new normal' on mortgage ratesAccording to the US Census Bureau, while February new home sales came in lower than expected month over month, they are up almost 6% from a year ago. In an...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Ottawa’s easing of mortgage lending rules is the last thing the housing market needsThe move will have detrimental consequences for Canada’s real estate sector and may make near-term rate cuts by the Bank of Canada less likely
La source: globebusiness - 🏆 31. / 66 Lire la suite »