Mortgage rates drop to the 5% range for the first time since September
Publishing timestamp: 2023-02-02 14:11:46
Summary
Mortgage rates have fallen to 5.99%, resulting in a $293 monthly savings for someone buying a $400,000 home with a 20% down payment. This has caused an increase in buyer interest, with pending home sales rising 2% in December. Homebuilder stocks have also been on a tear since rates started to fall back, with U.S. Home Construction ETF hitting a new one-year high.
Sentiment: POSITIVE
Keywords: pultegroup inc, real estate, housing, d r horton inc, ishares u.s. home construction etf, breaking news: business, breaking news: economy, mortgages, business news, u.s. economy,
Source: https://www.cnbc.com/2023/02/02/mortgage-rates-five-percent-range-first-time-september.html