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Stock impact report

Homebuilder confidence falls amid high rates [Yahoo! Finance]

Federal Home Loan Mortgage Corporation (FMCC) 
NASDAQ:AMEX Investor Relations: freddiemac.com/investors
Company Research Source: Yahoo! Finance
Builders (NAHB) revealed that the index that tracks homebuilder confidence plunged 6 points in May — suggesting that homebuilders currently perceive the conditions for building as unfavorable in this higher-for-longer interest rate environment. Yahoo Finance's Dani Romero breaks down the details, discussing homebuilders' steps to boost home sales. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith Video Transcript Well, mortgage rates are averaging above 7% for the past four weeks. According to Freddie Mac, high rates and high home prices are weighing on buyers and builders here. With the latest on the housing sector, we've got our very own, Danny Romero, Danny, how are home builders reacting to mortgage rates right now? Right. Homebuilders are not feeling confident about the housing market, especially that mortgage rates have stayed above 7%. The index that tracks homebuilder Show less Read more
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