Home builder confidence increases
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 18 March 2024
⏱️ 1 minutes
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Summary
Stocks rise; builder survey says demand for homes is up; mortgage application rates rise; credit rejection rates fall.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed up on Monday. The Dow |
| 0:07.4 | Gain 2 10% percent, the S&P Rose 6 10% percent, and the NASDAQ added 8.10%. Home Builders surveyed by the National Association |
| 0:16.2 | of Home Builders this month said they were more confident in the housing market than in February. |
| 0:21.0 | That's because demand for homes is rising. |
| 0:23.0 | The NAHB says it could continue to rise once the Federal Reserve starts cutting interest rates. |
| 0:28.0 | As a result, fewer builders say they're offering discounts to boost sales. |
| 0:32.0 | The number of mortgage applications rose in February |
| 0:35.2 | from the month before, according to the New York Federal Reserve, application rates for credit |
| 0:39.6 | cards, auto loans, and mortgage refinancing fell. |
| 0:43.0 | Meanwhile, the same report found that rejection rates fell overall. |
| 0:47.0 | That said, people applying for mortgages and refi said rejection rates rose. |
| 0:51.0 | Same with people who requested higher credit card limits. I'm Justin Ho, with the |
| 0:56.4 | marketplace man. You're going to. |
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