Lennar profit halves as higher mortgage rates pressure homebuyers
Lennar (LEN) reported third-quarter profit that more than halved as persistently high mortgage rates weighed on demand for new homes. Its shares fell 3% after the bell.
Lennar NYSE:LEN on Wednesday reported third-quarter profit that more than halved as persistently high mortgage rates weighed on demand for new homes. The Miami, Florida-based homebuilder's shares fell 3% after the bell.