. Mortgage rates have been at the root of many problems afflicting the US housing market and now they are starting to take a toll on homebuilder stocks; things could get even uglier as rates consistentlyspecial coverage this week, Wedbush Securities Equity Research SVP Jay McCanless describes the rate environment as having"gone from being pretty benign" at 2024's start to"much more negative now than we would've expected.
"The group is carrying less debt than it was five years ago and especially ten years ago. They are building the homes certainly more efficiently than they were back then, but at the same time, it comes down to monthly payment and the builders, I think they've done a good job of trying to shrink the size of the homes that they're building, reduce the amenities that they're putting especially in some the starter homes," McCanless says.
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