KB Home Reports Drop In Fiscal Q4 Results, But Says Demand Rising as Mortgage Rates Fall

Key TakeawaysProfit and sales declined at KB Home as high borrowing costs cut into demand, forcing the company to reduce selling prices and offer concessions to buyers that cut into margins.CEO Jeffrey Mezger said a recent decline in mortgage rates has boosted orders in the beginning of the company's fiscal 2024 first quarter, which began Dec. 1.Despite falling today, shares of KB Home have jumped the past year by more than 70%.KB Home (KB) on Thursday reported a decline in sales and profits in its fiscal f ...