Bellway Feels Cracks in the Foundation as Rate Shock Hits Demand

Bellway Feels Cracks in the Foundation as Rate Shock Hits Demand - Moby THE GIST Bellway’s profit warning is less about one company and more about a sector under strain. Rising mortgage rates, geopolitical shocks and persistent cost pressures are squeezing margins just as the United Kingdom housing market was attempting a fragile recovery. WHAT HAPPENED Shares in U.K. homebuilder Bellway tumbled sharply after the group downgraded its margin outlook and warned of renewed volatility in the mortgage market. ...