Primary Mortgage Market Survey® U.S. weekly average mortgage rates as of 05/08/2025 MCLEAN, Va., May 08, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.76%. “Mortgage rates stayed flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “At this time last year, the 30-year fixed-rate mortgage was 30 basis points higher and purchase applications were declining. T ...

Primary Mortgage Market Survey® U.S. weekly average mortgage rates as of 05/01/2025 MCLEAN, Va., May 01, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.76%. “Mortgage rates again declined this week,” said Sam Khater, Freddie Mac’s Chief Economist. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.” ...

NEW YORK, April 29, 2025 /PRNewswire/ -- S&P Dow Jones Indices (S&P DJI) today released the February 2025 results for the S&P CoreLogic Case-Shiller Indices. The leading measure of U.S. home prices recorded a 3.9% annual gain in February 2025, a slight decrease from the previous reading in January 2025. More than 27 years of history are available for the data series and can be accessed in full by going to https://www.spglobal.com/spdji/en/index-family/indicators/sp-corelogic-case-shiller/.YEAR-OVER-YEARThe ...

Financial Data and Key Metrics Changes - In the first quarter, new contracts decreased by 10% compared to last year, with a cancellation rate of 10% [10][18] - Revenues decreased by 7% to $976 million, while homes delivered decreased by 8% to 1,976 homes [11][21] - Gross margins were reported at 25.9%, down 120 basis points year-over-year but up 130 basis points from the previous quarter [10][21] - Pre-tax income decreased by 19% to $146 million, with a pre-tax income margin of 15% and a return on equity of 19% [12][23] - Earnings per diluted share decreased to $3.98 from $4.78 last year [24] Business Line Data and Key Metrics Changes - The mortgage and title operations achieved pre-tax income of $16.1 million, an increase of 31% from the previous year, with revenue increasing by 17% to a record $31.5 million [25] - The average mortgage amount increased to $406,000, while loans originated decreased by 2% to 1,530 [26] Market Data and Key Metrics Changes - New contracts in the Northern region decreased by 8%, while the Southern region saw a decrease of 11% compared to last year's first quarter [12] - Deliveries in the Southern region decreased by 13%, while the Northern region saw a decrease of 2% [13] Company Strategy and Development Direction - The company plans to continue offering mortgage rate buydown incentives to drive sales, indicating that gross margins may face pressure throughout the year [16] - The company remains optimistic about long-term growth in the homebuilding industry due to an undersupply of homes and increasing household formations [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the macroeconomic environment remains challenging, with factors such as inflation, interest rate fluctuations, and consumer confidence impacting demand [9][10] - Despite the challenges, management expressed confidence in the company's strong balance sheet and land position, indicating readiness for future growth [15][94] Other Important Information - The company ended the quarter with a record $3 billion in equity and a debt-to-capital ratio of 19% [15] - The company has repurchased 13% of its outstanding shares since 2022, with $200 million remaining under the current board authorization [31] Q&A Session Summary Question: Insights on buyer demand shifts by geography and price point - Management noted no significant changes in demand across price points, with Smart Series communities performing well [38] - Tampa market showed some recovery, while Indianapolis and Chicago remained strong [41][42] Question: Spec strategy and margin differentials - Management indicated that spec sales account for 50% to 65% of sales, with slightly lower margins on spec products [52][53] Question: Order pace and units under construction - Management is cautious about starts and is managing construction on a subdivision basis, with a focus on maintaining good margins [64][66] Question: Impact of lot cost inflation and supply chain - Currently, there has been no significant impact from lot cost inflation, and costs are stable compared to last year [85][88] Question: Share repurchase strategy - Management is consistent with a $50 million repurchase strategy and is open to adjusting based on market conditions [99][100] Question: Gross margin backlog and pricing power - Management expects continued pressure on margins and noted that true pricing power is limited in the current environment [107][127]

M/I Homes (MHO) Q1 2025 Earnings Call April 23, 2025 10:30 AM ET Company Participants Phillip Creek - Executive VP, CFO & DirectorRobert Schottenstein - Chairman, President & CEODerek Klutch - President & CEO of M/I FinancialAlan Ratner - Managing DirectorBuck Horne - Managing Director - Equity ResearchJay McCanless - SVP - Equity Research Conference Call Participants Kenneth Zener - Senior Analyst Operator Good morning, ladies and gentlemen, and welcome to the MI Homes First Quarter Earnings Conference Cal ...