Trading

Housing Charts: Trading KB Home and Lennar on Earnings

KB Home  (KBH)  and Lennar  (LEN)  posted earnings on Wednesday after the close and the reports couldn’t have come at a more interesting time.

On Wednesday the Federal Reserve raised interest rates by 0.75 percentage point, with plans to continue raising rates through the end of the year.

Chairman Jay Powell even spoke about the housing market specifically, noting that it would be healthy for it to see a correction. (It would also help ease inflation.)

That’s after 30-year mortgage rates hit their highest levels since 2008. Higher interest rates will only push mortgage rates higher in the meantime.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.