Homebuilders Gain as Mortgage Rates Fall to Two-Year Low

The average U.S. 30-year mortgage rate has fallen to a two-month low as investors rush to safe haven amid market decline, putting homebuilder ETFs in focus.

Today – U.S. homebuilding fell for a second straight month in June and. the housing market continued to struggle despite lower mortgage rates.. Despite the increase last month, permits continue to lag housing starts,

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The 15-year fixed-rate mortgage during the week averaged 3.28%, down 18 bps from 3.46% in the prior week, while five-year adjustable-rate mortgage declined 8 bps to 3.52%.

Lower mortgage rates could give the housing market a much needed boost, which could translate to more strength for homebuilders. Rising rates, low affordability and rising homebuilder costs due to.

Toll Brothers, America’s Luxury Home Builder, Selects Portland Area As Its Newest Market.. Homebuilders Gain as Mortgage Rates Fall to Two-Year Low. Zacks. 4 Stocks With Very high total yield.

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The 30-year fixed-rate mortgage averaged 3.82% for the week ending June 6, 2019, down 17 basis points from 3.99% in the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.

"Low unemployment. homebuilders reported weak quarterly earnings last week, indicating a slowdown in sales. The CEOs of KB Home and Lennar indicated that high prices had sidelined buyers,

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Shares of other homebuilders, including D.R. Horton Inc , PulteGroup. The effects of the trade war were offset by gains from near two-year low mortgage rates that have encouraged customers,

The S&P Homebuilders ETF, meanwhile, has logged a similar gain.. Rates on 30-year fixed-rate mortgages this month fell to their lowest since February 2018. A month later, housing starts dropped to a nearly two-year low.