Plunge in Mortgage Rates Are a Boon for PHM, KBH, MHO

This year has been tough for homebuilders as they had to bear the brunt of elevated interest rates to curb relentless inflationary pressure. However, as September interest rate cut bets rose, mortgage rates dropped to their lowest level in more than a year.With mortgage rates plummeting, things are looking brighter for housing players like PulteGroup, Inc. (PHM) , KB Home (KBH) and M/I Homes, Inc. (MHO) , making them enticing buys. Lower Home Mortgage Rates The average rate of the most-sorted 30-year fixed ...