Installed Building Products shares are trading lower amid a weekly rise in mortgage rates.
Portfolio Pulse from Benzinga Newsdesk
Installed Building Products (IBP) shares are trading lower due to a weekly increase in mortgage rates, which could potentially reduce new home construction demand, affecting IBP's business.
April 16, 2024 | 3:20 pm
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Installed Building Products shares are trading lower following a rise in mortgage rates, which may decrease demand for new home construction and negatively impact IBP's revenue.
The increase in mortgage rates is likely to reduce the affordability of new homes for consumers, potentially leading to a decrease in new home construction. As IBP provides installation services for new building projects, a decrease in construction activity could directly impact its business operations and revenue.
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