Lennar CEO warns higher interest rates test affordability
CEO Stuart Miller says elevated mortgage rates are squeezing housing affordability, tempering expected improvement for the homebuilder as inflation pressures budgets and resale inventory rises.
Lennar Corp. (LEN) CEO Stuart Miller said elevated mortgage rates are squeezing housing affordability, tempering the improvement expected for the homebuilder. With 30-year rates near 7%, inflation pressuring household budgets and resale inventory rising, buyers face tougher conditions despite persi…