Home Builder Stocks Are Having a Fantastic Week. Here’s Why.

Home builder stocks are on track for their best week since late last year as U.S. Treasury yields slumped on Thursday. Lower yields could lead to a retreat in mortgage rates—but there’s more to like about these stocks right now, says one analyst.

Home builders’ jump follows an extended slide as higher mortgage rates weighed on buyers, sellers, and builders alike in the second half of the year. Mortgage rates measured by Freddie Mac recently rose for seven straight weeks to the highest point in 23 years before falling slightly this week. In a housing market defined by high costs and few homes for sale, lower rates are good news for builders. Unlike sales of previously owned homes, new home sales have remained strong. With relatively few homes for sale, buyers could be turning to builders for more options—but the companies can also offer incentives, such as mortgage rate buydowns, that are rarer in sales of existing homes.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japanese stocks rise for third session as Hong Kong stocks gainSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market Today: Stocks slide, Treasury yields steady as Fed decision loomsInvestors are bracing for a key Fed rate decision, as well as the Treasury's quarterly refunding statement, with stocks moving lower heading into the start of Wednesday trading.
Source: startelegram - 🏆 248. / 63 Read more »

U.S. stocks are seen rebounding after worst October in 5 years if this historical trend holdsJoseph Adinolfi is a markets reporter at MarketWatch.
Source: MarketWatch - 🏆 3. / 97 Read more »

T-Swift of stocks: Ozempic is upending markets, despite unknownsThere are still far too many unknowns about new weight-loss drugs for them to be inspiring this level of hype, experts say.
Source: axios - 🏆 302. / 63 Read more »