Fed Rate Cut Hopes Boost Homebuilder Stocks

Homebuilder stocks surged following Federal Reserve officials hint at a potential interest rate cut in December, sparking optimism in the market. The likelihood of a rate cut increased from 39% to 70%, which could lower mortgage rates, making homeownership more accessible and potentially boosting sales for builders. This development has caught the attention of traders and could revitalize the housing market as we head into the new year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.