This translation has been automatically generated and has not been verified for accuracy.Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook.
The 30-year fixed mortgage rate has dropped to 3.60 per cent from a peak of 4.94 per cent in November, according to data from mortgage finance agency Freddie Mac. Mortgage rates are often tied to the benchmark 10-year Treasury yield. Eric Marshall, portfolio manager at Hodges Capital Management in Dallas, Texas, has seen relatively good traction in housing even with the turbulent markets. Lower rates are a plus, he said, along with an unemployment rate that is at its lowest level in years.“Consumer savings have come up, household formation continues to grow faster than the supply of housing,” Marshall said.
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