Lennar Corporation reported better than expected Q2 earnings Tuesday. However $LEN reversed sharply lower after guiding lower in their conference call and May new home sales showed a big miss in the west.
Mortgage Applications Rise 26.8% as Refinancing Surges on Lower Rates
Lower long term interest rates in the U.S. have seen refinancing take off, Mortgage applications jumped to their highest level since September 2016. Refinancing activity the highest since November 2016 accounted for 49.8% of mortgage applications
Lennar Earnings Miss But New Home Orders Rise 24%
Lennar Corporation reported worser than expected Q1 earnings after the market profit up from last year but a decline in homebuilding revenue hurt the top line. $LEN is benefitting from the new income tax regime.
KB Homes Tax Savings Help Cushion Homebuilding Revenue Decline
KB Homes reported better than expected Q1 earnings after the market swinging to profit from a loss last year. A decline in homebuilding revenue hurt the top line. $KBH is benefitting from the new income tax regime.
KB Homes Earnings Boosted By Core Homebuiding
KB Homes reported better than expected Q3 earnings after the market Tuesday with soaring revenue from its core line despite the U.S. housing recovery stalling. $KBH is benefitting from higher selling prices and increased consumer confidence. The stock rose 5% after the release.
KB Homes Earnings Riding Consumer Confidence and Housing Market Higher
KB Homes followed fellow homebuilder Lennar $LEN with soaring revenue in Q2 earnings from the steady U.S. housing recovery. $KBH is benefitting from higher selling prices and increased consumer confidence. The stock rose 4% after the release.
Housing Market Update, KB Home Earnings, Mortgages and Home Sales
After a series of weak housing data we get a chance to gage if this is just a breather or we are in for a more servere housing pullback. Ahead are earnings from KB Home $KBH, mortgage applications, house Prices, existing home sales and new home sales.
US New Home Sales Unexpectedly Fall 7% Two Months In A Row
Warning bells from the housing market with US January new home sales coming in at 593K, much lower than 648K expected from 643K last month (revised up from 625k). In percentage terms sales were -7.8% an expected +3.6% rise.
KB Homes Earnings Ride The U.S. Housing Market Higher
KB Homes $KBH followed fellow homebuilder Lennar $LEN with soaring revenue in Q4 earnings from the steady U.S. housing recovery. $KBH is benefitting from favorable interest rates and increased consumer confidence.