Battered homebuilder stocks may be primed for a new rally as US mortgage rates look set to drop in 2023, Bank of America says

Jan 11 2023 by Business Insider

 
Bank of America sees mortgage rates moving lower in 2023.

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Bank of America sees homebuilding stocks pushing higher as housing market conditions improve after a rough 2022.  PulteGroup, Lennar, and Toll Brothers were each upgraded, and NVR is the bank's top 2023 pick in the sector.  BofA sees the 30-year fixed-rate mortgage drifting down to about 5.25% this year. 

Homebuilder stocks could be gearing up for a rally after a losing 2022 performance, with a...

Continue Reading Battered homebuilder stocks may be primed for a new rally as US mortgage rates look set to drop in 2023, Bank of America says