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LGI Houses Chairman and CEO Eric Lipar informed CNBC on Friday he believes housing demand will stay sturdy even within the face of rising mortgage charges.
A day earlier, Freddie Mac reported the 30-year fixed-rate mortgage reached its highest degree since July after eclipsing 3%. And on Wednesday, the Mortgage Bankers Affiliation’s seasonally adjusted index confirmed complete mortgage utility quantity was primarily flat final week.
The housing market has been one of many shiny spots of the U.S. economic system through the coronavirus pandemic, sparked partially by elevated geographic flexibility and record-low borrowing prices. However a latest transfer larger in U.S. Treasury yields has led some to ponder the implications for residential actual property.
“Nonetheless actual robust demand that we’re seeing within the housing market,” Lipar stated in an interview on “Closing Bell.”
Texas-based LGI Houses has a presence in virtually 20 states, primarily within the southern and western elements