Homebuilders Fall to 10-Month Low on Sales Data, Earnings Miss. The maker of home appliances Whirlpool Corp. plunged 15 percent on Tuesday after reporting disappointing second-quarter results and annual guidance. The stock was down as much as 4.7 percent on Wednesday, widening its plunge since mid-July to 21 percent.
Shares of Lennar Corp. (LEN) rose almost 4% on Wednesday after the company announced first-quarter results. revenue grew 29.9% from the prior-year quarter to $3.87 billion, falling $230 million short of expectations. Earnings of 74 cents per share missed estimates by 2 cents. In the first quarter, revenue from home sales rose 36% to $3.6 billion.
Homebuilders’ Earnings Boosted by Falling Mortgage Rates. Sales of new U.S. homes fall to a five-month low, adding to signs of weakness despite lower mortgage rates.. Don’t miss crucial.
KB Home KBH, one of the nation’s largest homebuilders, reported disappointing fourth-quarter and fiscal 2015 (ending Nov 31) results on Jan 7 before the market opened.Shares of this Los Angeles-based homebuilder declined 12% since the results were announced. KB Home missed the Zacks Consensus Estimate for both sales and earnings in the fourth quarter.
· We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.. New-Home Sales Drop to Eight-Month Low as Prices Fall. Shobhana Chandra;
Shares in Lennar fell sharply in early trading after the company warned that it would miss 2007 profits. disappointing data on new homes sales and prices, prompting a sell-off in the sector for a.
Movement Mortgage plans operations expansion · Movement Mortgage announced Wednesday that it is acquiring a big piece of Lennar’s mortgage arm, Eagle Home Mortgage. To be specific, Movement Mortgage is set to acquire the retail operations.
Steady job gains this year and ultra-low mortgage rates have boosted sales. of Home Builders/Wells fargo survey released last week. The pace of home construction is nearly 22 percent higher than a.
"Low unemployment, solid job growth and favorable demographics should support housing demand in the coming months." Of the index’s three components, current sales conditions rose 2 points to 63.
Forget millennials. Gen-X is controlling the e-closing revolution Via Andrew Sullivan, here’s a blog post by a woman named lana hope, who was raised in a homeschooling christian fundamentalist family, and who has left all that behind. She writes to say that people.
(Bloomberg) — Homebuilder stocks are slipping after sales of previously owned U.S. homes fell more than forecast in March and KBW cut its rating on D.R. Horton shares. Home sales declined for a fourth time in five months, even with lower mortgage rates, wage gains and slower home-price appreciation.
Ginnie Mae must balance supervision with the scope of servicers’ risk Freddie Mac trims 2019 origination estimate but could rethink the move It turns out bigger isn’t always better. jumbo loans – mortgages too large to be sold to Fannie Mae and Freddie Mac – fell by 12 percent by dollar volume last year, according to a new report.Thus, the increase in risk-weights reduced the incentives for banks to service the loans they originate and sell to the GSEs or ginnie mae. capital and Liquidity Requirements of Nonbanks Nonbank originators and servicers are subject to very light supervision by the Consumer Financial Protection Bureau.