LGI Properties CEO sees demand staying robust as mortgage charges tick up
LGI Homes Chairman and CEO Eric Lipar informed CNBC on Friday he believes housing demand will stay sturdy even within the face of rising mortgage charges.
A day earlier, Freddie Mac reported the 30-year fixed-rate mortgage reached its highest level since July after eclipsing 3%. And on Wednesday, the Mortgage Bankers Affiliation’s seasonally adjusted index confirmed whole mortgage software quantity was essentially flat last week.
The housing market has been one of many brilliant spots of the U.S. financial system in the course of the coronavirus pandemic, sparked partly by elevated geographic flexibility and record-low borrowing costs. However a recent move higher in U.S. Treasury yields has led some to ponder the implications for residential actual property.
“Nonetheless actual robust demand that we’re seeing within the housing market,” Lipar stated in an interview on “Closing Bell.”
Texas-based LGI Properties has a presence in nearly 20 states, primarily within the southern and western elements of the U.S. Whereas the corporate focuses on first-time…
