Home Builders Are Just As Unsure As You Are

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard discuss homebuilder sentiment.

Today's article from SeekingAlpha.com is titled: "Homebuilder sentiment unexpectedly dims in August as mortgage rates stay high." The main issues builders are seeing is supply headwinds, continued high-rate environment and affordability. In light of these issues, builders are concerned they are running out of borrowers, because buyers are sick of seeing the payment sizes at these high rates. In response, builders are offering major incentives like buying down rates. 

On the supply side, we are seeing lumbar costs rise, causing a lot of headwind for builders. In addition to builders buying down interest rates, they are paying closing costs and now with these higher lumbar costs, builders are fronting a lot of the expense. But despite all of this, we are still looking forward to rates coming down in the future, and turning things around.

Listen in as we discuss this and more!

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.