Taylor Morrison's COO said builders can often offer homebuyers better rates on a newly built house.
High mortgage rates, home prices teetering near an all-time high, and historically low inventory are keeping many buyers — and sellers — on the sidelines.
The larger share of new homes on the market means paying a mortgage rate around 7% isn't the only way into a home.
During its third-quarter earnings call , Taylor Morrison explained that it's attracting "well-qualified consumers even among our first-time homebuyers" and 88% of its buyers are using its financing assistance.
As Business Insider previously reported, would-be buyers may have more luck securing a lower rate if they buy a new-construction home.
Persons:
Taylor, Erik Heuser, Heuser, —, homebuilder Taylor Morrison, Taylor Morrison, Freddie Mac, Tawn Kelley, It's, they're
Organizations:
Service, Finance
Locations:
Florida , Texas, North Carolina, Georgia, Arizona, Washington, Nevada