U.S. homebuilder PulteGroup Inc reported better-than-expected third-quarter profit and revenue on Tuesday, as lower mortgage rates boosted demand. The housing market, the most sensitive sector to interest rates, has perked up in recent months as the Federal Reserve’s monetary policy easing has pushed down mortgage rates from last year’s multi-year highs. “Improving demand dynamics continued throughout the quarter, as lower interest rates and improved affordability had a positive impact on buyer interest,” Chief Executive Officer Ryan Marshall said in a statement. …read more
Source:: Yahoo Finance
