Reported about 10 hours ago
Homebuilder stocks saw gains following Federal Reserve Chair Jerome Powell's hint at possible interest rate cuts in September, which could positively influence the housing market. Mortgage rates recently fell to a 10-month low, prompting discussions among economists on how such changes may attract more buyers, especially millennials who are currently waiting longer to enter the market. The experts highlighted that while rate cuts might not lead to a corresponding drop in mortgage rates, there are indicators of shifting conditions that could improve housing availability and affordability.
Source: YAHOO