Single-Family Housing Starts Are Up As Mortgage Rates Decline, Fed Eyes Lower Rates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 18 2024
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Source: Benzinga
Increase in Housing Starts: Single-family housing starts in the U.S. rose by 15.8% in August, reaching an annualized rate of 992,000 units, as mortgage rates declined and the Federal Reserve is expected to cut interest rates for the first time in four years.
Building Permits and Mortgage Rates: Building permits for single-family homes increased by 2.8% to a rate of 967,000 in August, while the average 30-year mortgage rate fell to 6.15%, the lowest since September 2022.
Analyst Views on NAIL
Wall Street analysts forecast NAIL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NAIL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 66.210
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Current: 66.210
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
