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Investors interested in stocks from the Building Products - Home Builders sector have probably already heard of KB Home (KBH) and D.R. Horton (DHI).
D.R. Horton remains attractively valued due to the promising home buying trends, the narrowing price gap between new/ resale homes, and its attractively priced inventories. With the mortgage rates already moderating from recent heights while nearing the magic rate of 5%, it is unsurprising the management has raised the FY2024 sales and home closings guidance. DHI's diversified operations across rentals and financial services support its investment thesis, significantly aided by the buyers' stronger FICO scores and higher incomes.
Hurricane Milton could slow down new home construction in the state of Florida, which could have a negative impact on the overall U.S. housing market.
Chantico Global chief executive Gina Sanchez recommends buying homebuilder stocks now that the US Federal Reserve has lowered interest rates by 50-basis points. Last night, members of the FOMC also signaled another 50 bps of rate cuts by the end of 2024.
A shortage of homes and falling interest rates should make the stock of homebuilder D.R. Horton, Inc. (DHI) rise higher.
It's been nearly a month since Kamala Harris and Tim Walz released their agenda to lower costs for American families.
Yesterday, mortgage rates fell for a sixth-straight week and hit their lowest level since February 2023, with the average contract interest rate for a 30-year fixed-rate mortgages with conforming loan balances dropping to 6.29%.
Investors interested in Building Products - Home Builders stocks are likely familiar with KB Home (KBH) and D.R. Horton (DHI).
D.R. Horton (DHI) concluded the recent trading session at $187.53, signifying a +0.01% move from its prior day's close.
A majority of economists now expect the U.S.