1055 ET - Beazer Homes USA is looking to financially engineer a win-win solution. The Atlanta home builder is working with lenders to offer one-way rate locks with an embedded permanent rate buy-down. This will protect prospective buyers from mortgage rates that rise, and give them a benefit if rates happen to decline. Beazer thinks this will help sales of to-be-built homes -- ones that buyers can personalize but take longer to come on the market -- which offers the company upside given they come with higher margins. CEO Allan Merrill on an earnings call notes that short-term mortgage incentives tied to spec builds that can close right away have suppressed demand for homes that won't be available for six months. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 31, 2025 10:55 ET (15:55 GMT)
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