Largest U.S. homebuilder sees orders fall 2 percent as housing demand slows
(Reuters) - D.R. Horton Inc, the largest U.S. homebuilder, reported a 2 percent fall in quarterly orders due to rising mortgage rates and policy uncertainty in Washington.
Mortgage rates began rising in May and touched a two-year high in July after the Federal Reserve started talking about easing the stimulus launched during the financial crisis.
Orders booked by homebuilders have been slowing this year, the second full year of the U.S. housing market recovery.
Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at firstname.lastname@example.org and we can help you.