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Lennar’s CEO Stuart Miller warned Thursday that affordability remains a concern for homebuyers as mortgage rates hover near 7%.Miller said on the company's first quarter earnings call that ...
(Reuters) - Lennar Corp missed Wall Street estimates for fourth-quarter profit and revenue on Wednesday, as potential buyers remained reluctant to buy homes due to volatile mortgage rates, sending ...
Look no further than Lennar, a homebuilder ranked No. 119 on the Fortune 500, which is presently promoting a "fixed [mortgage] rate of 4.25%" in Colorado for buyers who "sign a purchase agreement ...
Lennar dates back to F&R Builders, a company founded in 1954 by Gene Fisher and real estate developer Arnold P. Rosen. In 1956, Leonard Miller, who later became the namesake of the Miller School of Medicine at the University of Miami, a 23-year-old entrepreneur that owned 42 lots in Miami-Dade County, Florida, invested $10,000 and partnered with the company.
Homebuilder Lennar fell 5.2% after reporting weaker profit and revenue for the latest quarter than analysts expected. CEO Stuart Miller said that “the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose” through the quarter.
Lennar's adjusted earnings per share came in at $2.94, beating the $2.31 estimate by analysts. ... Mortgage rates also aren't helping buyers, offering a key opportunity for builders.
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