Reported about 1 month ago
PulteGroup reported third-quarter earnings that exceeded Wall Street expectations, driven by a decrease in fixed mortgage rates which attracted hesitant buyers back into the market. With current 30-year fixed rates around 6%, down from a peak of 8%, demand for new construction remains strong amid a low supply of existing homes. Despite facing pressure from high land and material costs, the company achieved a 12% increase in home deliveries, generating $4.47 billion in revenue and earnings per share of $3.35.
Source: YAHOO